Pakistan PM's 'good news': Remittances through RDA reach $1.5 billion
Prime Minister Imran Khan said that a large chunk of these funds have gone into Naya Pakistan Certificates.
Overseas Pakistanis have remitted $1.5 billion through Roshan Digital Accounts (RDA) with a large chunk of these funds having gone into Naya Pakistan Certificates.
Pakistan’s prime minister Imran Khan shared the “good news” from the State Bank of Pakistan (SBP) on Sunday morning.
Good news from SBP. #RoshanDigitalAccount achieves more milestones. Inflows crossed $1.5 bn on Friday, with investment in Naya Pakistan Certificates surpassing $1 bn. Accounts & deposits have set new records since the $1 bn event 2 months ago. https://t.co/sEe2wiOYrG pic.twitter.com/hAIx2Rko4Z— Imran Khan (@ImranKhanPTI) June 27, 2021
“Good news from SBP. Roshan Digital Account achieves more milestones. Inflows crossed $1.5bn on Friday, with investment in Naya Pakistan Certificates surpassing $1bn. Accounts and deposits have set new records since the $1bn event two months ago,” Imran Khan said in a tweet on Sunday.
Roshan Digital Account was launched in September 2020 with an aim to provide an additional avenue for the country’s diaspora to attract more remittances. Through this new avenue, Pakistanis living and working abroad can invest in the country’s stock market, buy property, pay utility bills and enjoy a number of benefits.
In addition, Naya Pakistan Certificates are highly attractive propositions for overseas Pakistanis, offering very high interest rates.
The State Bank of Pakistan data showed remittances increasing from $9 million in September 2020 to $250 million in December last year and $1.5 billion on June 25, 2021.
Overall, remittances sent by overseas Pakistanis stayed above the $2 billion market for the 12th consecutive month in May 2021, reaching $2.5 billion, up 33.5 per cent when compared to same month last year.
On a cumulative basis, remittances surged to $26.7 billion during July to May 2020-21 fiscal year, higher by 29.4 per cent over the same period last year. This excludes remittances sent through Roshan Digital Accounts.
Authorities have ensured all protocols are in place, as they await... READ MORE
Worst violence in years spreads in South Africa as grievances boil... READ MORE
Amid sharp rise in cases due to Delta variant. READ MORE
East European destinations remain popular, while Emiratis prefer... READ MORE
Self-propelled cabins will move over ropes at speeds of up to 45km/hr. READ MORE
The Golden Visa holders were able to arrive back in the country... READ MORE
She was found guilty of causing marital discord between him and his... READ MORE
The international operation saw the involvement of 47 countries. READ MORE