President Dr. Arif Alvi inaugurated a property exhibition arranged by Pakistani banks that are offering the facility of Roshan Digital Account (RDA) for the Non-Resident Pakistanis (NRPs) based in UAE.
Roshan Apna Ghar is a scheme devised by the central bank for Non-Resident Pakistanis (NRPs) to buy, build or renovate their homes in Pakistan through their own investment or bank financing.
The President expressed the hope that Non-Resident Pakistanis (NRPs) living in UAE would take maximum advantage of the State Bank’s Roshan Apna Ghar scheme and use it to fulfill their and their family’s housing needs in Pakistan.
The exhibition was held by Pakistani banks in partnership with builders and developers, to showcase their products being offered under RDA. Mr. Abdul Razak Dawood. Amongst the attendees are the advisor to Prime Minister on Commerce, Textile, Industries & Production, and Investment. Others present at the occasion included a large number of Pakistanis, various UAE-based Pakistani associations, Senior State Bank of Pakistan (SBP) management, Presidents/CEOs of commercial banks, UAE and Pakistan based property developers, and Pakistan’s Embassy officials in UAE.
Appreciating the vast potential of UAE-based NRPs, President Dr. Arif Alvi said Pakistanis living in the UAE have majorly contributed towards the development and economic growth of UAE, and most of them regard UAE as their second home. He added that UAE is a major destination for Pakistani workers and their contribution in remittances is noteworthy. He observed that the State Bank of Pakistan (SBP), with the active support of commercial banks, has presented NRPs a unique opportunity to buy a home that hitherto, had been a very difficult task for several reasons. He felt satisfied that finally, an end-to-end digital process had made it possible for NRPs. He shared his thoughts divulging various strengths as a nation that Pakistanis should be proud of.
In his welcome address, Governor SBP, Dr. Reza Baqir voiced his heartfelt gratitude to President Dr. Arif Alvi for making time and inaugurating the exhibition. He said that SBP has been able to introduce RDA and Roshan Apna Ghar in line with the vision of Prime Minister Imran Khan to integrate the NRPs with the country’s economy. Recounting the massive success of RDA, the Governor illuminated that RDA has proved to be a major success and become a household name connecting over 250,000 NRPs under one umbrella in addition to attracting over USD2.5 billion since its launch in September last year. He further added that the overwhelming success of RDA and Naya Pakistan Certificates (NPCs) speaks volumes of the immense popularity of the incumbent regime in the hearts and minds of NRPs. He said it has been a priority of the government and SBP to resolve the issues of NRPs living across the globe, as they fully understand their potential for lifting the country’s economy. He said that international organizations were appreciating the economic growth of the country despite the odds. He noted that the economy was heading in the right direction and the unprecedented increase in foreign exchange reserves is an expression of confidence of overseas Pakistanis in the government’s economic policies.
Speaking on the occasion, Mr. Abdul Razaq Dawood assured the audience 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. Mr. 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. He also mentioned SBP’s Temporary Economic Refinance Facility (TERF) for helping industry expand and modernize, besides SBP’s various initiatives for facilitating the public at large.