KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said overseas Pakistanis are showing keen interest in the Roshan Digital Account (RDA).
The investment in RDA has surpassed US two billion dollars in eleven months which is a laudable initiative of the SBP and its Governor Dr Reza Baqir, he added.
Mian Zahid Hussain said that the success of RDA is helping the economy while steps are being taken to boost remittances by using different tools.
He said that RDA attracted US one billion dollars by 24th April, deposits jumped to $1.5 billion by 27th June while the deposits are increasing at a rapid pace which reflects the confidence of overseas Pakistanis in the government.
He said that the government will shortly announce a reward scheme for those sending remittances to encourage them which may improve remittances.
Mian Zahid Hussain noted that demand for the US dollar has eroded the exchange rate pushing rupee to a ten-month low as the dollar was sold at Rs 164 per dollar.
He said that the government should stop the rupee fall against the dollar to provide relief to the masses and the business community.
The IMF has planned to pump 650 billion dollars into the global economy to boost it and Pakistan will get US 2.8 billion dollars in six days under the plan which will strengthen forex reserves.
He said that there are thin chances for further erosion in the exchange rate which will stabilize the economy and provide relief to importers.
Copyright Business Recorder, 2021