KARACHI: The federal government and the State Bank of Pakistan (SBP) has categorically denied rumours of restrictions on foreign currency accounts and assured all accountholders maintaining FCAs, Roshan Digital Accounts (RDAs) and Safety Deposit Lockers in banks in Pakistan that their accounts and lockers are completely safe.
The SBP said that there is no proposal under consideration to put any restriction on FCAs, RDAs and Safety Deposit Lockers. The federal government and SBP Monday refuted baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers.
Some rumours were circulating on social media that the Government of Pakistan or State Bank is considering freezing or placing restrictions on withdrawals from Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers.
“Such rumours are absolutely incorrect and baseless”, ministry of finance and SBP said in a joint statement and clarified that such a proposal has neither been considered presently nor in the past.
Moreover, foreign currency accounts including Roshan Digital Accounts are legally protected under the Foreign Currency Accounts (Protection) Ordinance 2001, and the government and the State Bank are committed to protecting all the financial assets in Pakistan including the ones mentioned above.
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According to statement, the government and State Bank are taking all necessary measures to ensure macroeconomic stability in the country. The recent difficult decisions taken by the government of Pakistan, including the reduction of subsidy on petroleum products, will pave the way to reach an agreement with the IMF and release of the IMF tranche and financial assistance from other multilateral agencies and friendly countries, it added.
The Ministry of Finance and SBP are confident that these measures will relieve the temporary stress being faced due to elevated global commodity prices and geo political tensions, and eliminate uncertainty in the economy.
Copyright Business Recorder, 2022