AIRLINK 78.55 Decreased By ▼ -0.06 (-0.08%)
BOP 4.77 Increased By ▲ 0.12 (2.58%)
CNERGY 4.16 Increased By ▲ 0.13 (3.23%)
DFML 39.29 Increased By ▲ 2.81 (7.7%)
DGKC 95.65 Increased By ▲ 7.40 (8.39%)
FCCL 24.16 Increased By ▲ 1.87 (8.39%)
FFBL 32.77 Increased By ▲ 2.62 (8.69%)
FFL 9.37 Increased By ▲ 0.19 (2.07%)
GGL 10.15 Increased By ▲ 0.23 (2.32%)
HASCOL 6.54 Increased By ▲ 0.43 (7.04%)
HBL 109.50 Increased By ▲ 4.50 (4.29%)
HUBC 145.01 Increased By ▲ 7.51 (5.46%)
HUMNL 10.73 Increased By ▲ 0.08 (0.75%)
KEL 4.73 Increased By ▲ 0.09 (1.94%)
KOSM 4.26 Increased By ▲ 0.26 (6.5%)
MLCF 39.40 Increased By ▲ 2.27 (6.11%)
OGDC 129.25 Increased By ▲ 10.06 (8.44%)
PAEL 25.87 Increased By ▲ 1.89 (7.88%)
PIBTL 6.34 Increased By ▲ 0.27 (4.45%)
PPL 122.70 Increased By ▲ 8.65 (7.58%)
PRL 24.35 Increased By ▲ 1.18 (5.09%)
PTC 12.99 Increased By ▲ 0.79 (6.48%)
SEARL 61.18 Increased By ▲ 2.13 (3.61%)
SNGP 65.20 Increased By ▲ 3.22 (5.2%)
SSGC 9.89 Increased By ▲ 0.13 (1.33%)
TELE 7.86 Increased By ▲ 0.19 (2.48%)
TPLP 9.85 Increased By ▲ 0.37 (3.9%)
TRG 64.50 Increased By ▲ 0.78 (1.22%)
UNITY 26.99 Increased By ▲ 0.14 (0.52%)
WTL 1.32 Increased By ▲ 0.02 (1.54%)
BR100 7,977 Increased By 398.8 (5.26%)
BR30 25,602 Increased By 1383.8 (5.71%)
KSE100 76,208 Increased By 3410.7 (4.69%)
KSE30 24,438 Increased By 1225 (5.28%)

The State Bank of Pakistan (SBP) on Monday denied social media posts that claimed large withdrawals were taking place from Roshan Digital Accounts, following the ouster of Imran Khan as prime minister.

"The SBP rebuts fake news on social media about large withdrawals from Roshan Digital Account (RDA) and slowdown in inflows," it tweeted on Monday. "So far in April, inflows are very strong at around $86 million and there are no abnormal outflows. Total inflows have now surpassed $4 billion."

The clarification comes in response to a flurry of posts on social media claiming that overseas Pakistanis – a big part of Khan's vote-bank – are now hurt at his ouster as prime minister, and withdrawing their investments through RDAs.

Similar chants were raised at a protest rally organised by overseas Pakistanis at Hyde Park, London.

“No Imran, No remittances,” Imran Khan’s supporters chanted, saying that “they don't want their hard-earned money to end up in accounts of corrupt looters.”

Data on inflows under RDA is usually reported by the SBP at the start of each month. In April, the central bank reported that RDAs, a banking solution for Non-Resident Pakistanis (NRPs), has fetched inflows amounting to $3.9 billion by the end of March 2022, with over two-thirds of the amount being invested in Naya Pakistan Certificates (NPC).

RDA is an initiative of the SBP, in partnership with major banks, to facilitate NRPs for banking services in Pakistan. The initiative has been given importance due to its nature of attracting foreign exchange inflow for the country's economy that sees twin deficits through its trade and current accounts, putting pressure on the currency.

Also read: Roshan Digital Account: inflows cross $3.9bn, NPCs attract over two-thirds of total

Comments

Comments are closed.

Syed Arif Hussain Zahidi Apr 11, 2022 06:53pm
I will remit Khan or no Patay Khan. I love Pakistan.
thumb_up Recommended (0)