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Inflow through the Roshan Digital Account (RDA) clocked in at $141 million in February, a decline of 0.7% as compared to $142 million in January 2024, the State Bank of Pakistan (SBP) said on Tuesday.

Out of the total amount, $9 million has so far been repatriated, while funds to the tune of $111 million have been utilised locally. The net repatriable liability stands at $21 million.

Meanwhile, cumulative inflows crossed $7.5 billion by February-end.

The central bank shared that total number of RDA accounts opened reached 668,701 from 659,806 a month ago at January-end.

As per the latest data available on the SBP’s website, the cumulative RDA inflow clocked in at $7.478 billion by the end of the previous month, out of which $1.559 billion has so far been repatriated, while funds to the tune of $4.667 billion have been utilised locally.

Consequently, total net repatriable liability stands at $1.252 billion as of February-end.

Latest position as of the SBP website
Latest position as of the SBP website

Out of the total outstanding liability, an amount of $805 million is with Naya Pakistan Certificates, with $304 million in conventional NPCs and $501 million in Islamic instruments.

Similarly, an amount of $392 million is ‘balances in accounts’, the SBP showed.

Meanwhile, Roshan Equity Investments improved monthly and stood at a meagre $32 million.

Background

RDA is a significant source of foreign exchange inflows for cash-starved Pakistan.

The initiative was launched in September 2020 by the SBP and offers up to 8% profit on US dollar investments.

Last year, the central bank in its bid to attract further remittance inflows announced the launch of Diamond Category in the Sohni Dharti Remittance Program.

Comments

200 characters
Ayan Mar 19, 2024 01:24pm
Rewards program Sohni Dharti Remittance Card has been ended , that was the small benifit for overseas thats also comes to an end.
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Ayan Mar 19, 2024 01:26pm
Sohni Dharti Remittance reward programme was state own initiative and State Bank of Pakistan Govern it , but after regime change operations they systematically stop it.
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