In a bid to attract Non-Resident Pakistanis (NRPs) to invest in the country’s real estate sector, President Arif Alvi launched the Roshan Apna Ghar scheme in the UAE.
During his first official visit to the UAE, Alvi expressed hope that NRPs would take maximum advantage of the Roshan Apna Ghar scheme, read a statement.
He was inaugurating a property exhibition for the UAE-based NRPs arranged by Pakistani banks offering Roshan Digital Account (RDA), in partnership with builders and developers, to showcase their products being offered under RDA.
The Roshan Apna Ghar is an initiative of the State Bank of Pakistan for NRPs to buy, build or renovate their homes in Pakistan through their own investment or bank financing.
Appreciating the vast potential, Alvi said Pakistanis living in the UAE have contributed towards the development and economic growth of the UAE and most of them regard it as their second home.
He said that UAE is a major destination for Pakistani workers and their contribution in remittances is significant. He observed that SBP, with the active support of commercial banks, has provided NRPs a unique opportunity to buy a home that hitherto, had been a very difficult task for various reasons.
Meanwhile, SBP Governor Dr Reza Baqir in his address said that SBP has been able to introduce RDA and Roshan Apna Ghar following the vision of Prime Minister Imran Khan to integrate the NRPs with the country’s economy.
Dr Baqir said that RDA has proved to be a huge success and become a household name connecting over 250,000 NRPs under one umbrella besides attracting over around $2.5 billion since its launch in September last year.
He said it has been a priority of the government and SBP to resolve the issues of NRPs living across the globe.
He said that Pakistan's economy was heading in the right direction and the increase in foreign exchange reserves is an expression of confidence.
Speaking on the occasion, Advisor to Prime Minister on Investment Abdul Razak Dawood assured the attendees that the economy is heading in the right direction and maintaining a healthy growth path.
He especially mentioned the textile and cement sector “where growth trends are remarkable,” while automobile, consumer goods, and food and likes are following a similar trend, he said.
Dawood said that country’s exports growth has already picked up and he is confident that it will keep the momentum and grow further this year.