ISLAMABAD:
Prime Minister Imran Khan announced to the people on Sunday that inflows into the Roshan Digital Account (RDA) have surpassed $1.5 billion.
SBP [State Bank of Pakistan] has some good news. More milestones are reached by #RoshanDigitalAccount “On the microblogging site Twitter, the prime minister wrote.
“On Friday, inflows surpassed $1.5 billion, with $1 billion invested in the Naya Pakistan Certificates. Since the $1 billion event two months ago, accounts and deposits have reached new milestones “the prime minister added. The volume of their foreign currency deposits with local banks and their investments in a number of programmes through the RDA hit a critical milestone of $1 billion in late April, indicating that overseas Pakistanis are becoming more confident in the home economy.
These inflows have helped to boost Pakistan’s foreign exchange reserves to a four-year high of over $16 billion.
This has increased the country’s ability to make international payments, like as import bills and debt repayments, while also stabilising the rupee-dollar exchange rate at roughly Rs153.The RDA is a lifestyle product since it caters to everyone’s needs and provides something for everyone. Furthermore, the tax framework for such investments has been made exceptionally simple and user-friendly, removing the burden of filing tax returns on the use of the RDA from foreign Pakistanis.
The RDA also has the advantage of being able to completely repatriate the investment. This means that Pakistanis living abroad can send money back to their home country at any moment, without the requirement to obtain approval from the SBP.In September 2020, Prime Minister Imran unveiled the RDA programme in conjunction with the SBP. Saudi Arabia and the United Arab Emirates (UAE) account for the majority of inflows, which are largely invested in traditional and Sharia-compliant Naya Pakistan Saving Certificates.
Pakistanis living abroad have also made investments in real estate and firms listed on the Pakistan Stock Exchange (PSX). The RDA can provide foreign Pakistanis with vehicle loans and home financing, as well as pay their families’ local utility bills and school tuition.
Tree plantation
Prior to the monsoon season, Prime Minister Imran Khan has urged all Pakistanis to prepare for the “largest tree planting drive in Pakistan’s history.”
On Twitter on Sunday, the Prime Minister released an infographic depicting the number of trees per person in various countries. According to the graph, Canada has 10,163 trees per person, the United States has 699 trees per person, China has 130 trees per person, India has 28 trees per person, and Pakistan has five trees per person.
“We have a lot of ground to make up. And we’ll be preparing for our largest plantation campaign in Pakistan’s history this monsoon season “he continued
