MY son who works in Dubai transferred an amount from his Habib Bank Limited Digital Roshan Account to a designated account of Defence Housing Authority, Lahore, in Muslim Commercial Bank on Jan 4.
The funds transfer reference number from HBL is LT07860401210539. It is the first installment of payment for a one-kanal balloted plot of land in Overseas Enclave, Phase VII, DHA, Lahore, against application No. 1116204253440.
In today’s technologically advanced world when online transactions take place in real time, DHA Lahore has failed to confirm the above-mentioned funds transfer so far despite repeated requests and continuous follow-ups.
HBL is insisting that funds have been transferred to the designated account of DHA in MCB under reference number LT07860401210539 on Jan 4, whereas the DHA is saying it cannot confirm receipt of payment unless MCB confirms to DHA the receipt of funds. This is a disturbing and undesirable situation.
Pakistan is in dire need of foreign exchange, and Roshan Account is a positive step in this regard. However, such instances are worrisome for overseas Pakistanis and foreign investors, and may hold them back from investing in Pakistan.
The State Bank of Pakistan should look into this matter and take necessary steps to solve this problem.
Ejaz Ahmad Magoon
Published in Dawn, January 23rd, 2021