ISLAMABAD: The opening of the Roshan Digital Accounts (RDA) by Pakistanis living in Saudi Arabia has witnessed a significant upward trend following Prime Minister Imran Khan’s recent visit to the kingdom.
This was stated by the governor of State Bank of Pakistan, Dr Reza Baqir, during a meeting with the prime minister on Thursday.
PM Khan expressed satisfaction that the promotion of RDA would put a positive impact on the foreign exchange reserves.
During his visit to Saudi Arabia in the second week of May, the prime minister had addressed the Pakistani community in Jeddah at a ceremony held on the topic of RDA. He had acknowledged the contribution of Pakistani expatriates residing in Saudi Arabia for the progress and economic development of Pakistan.
Last month, Prime Minister Khan had thanked the overseas Pakistanis for their overwhelming response as they deposited over $1 billion via RDA. He appreciated the State Bank and commercial banks for achieving the significant milestone in such a short period.
Financial sector believes the higher inflow in RDA is a sign of improved confidence of overseas Pakistanis in the economy, as the country succeeded in increasing its foreign exchange reserve and regained current account surplus from huge $20bn deficit in FY18.
Meanwhile, Vice Chairman of the Toyota Motor Corporation Shinji Yanagi and Chief Executive Officer of the Indus Motors Company Ali Asghar Jamali called on Prime Minister Khan.
The prime minister was informed that the Indus Motors Company was keen to start local manufacturing of hybrid vehicles in Pakistan.
He was also apprised of growing confidence of foreign investors in Pakistan’s large scale manufacturing, particularly in auto industry, due to the government’s positive and business-friendly policies.
Published in Dawn, May 21st, 2021