Lahore, Pakistan, United States, 08/27/2021 / Topwire Pakistan News Desk /
On Friday, prime minister Imran Khan addressed the launch ceremony of the Roshan Apna Ghar scheme in Islamabad. As per the State Bank of Pakistan (SBP), under the initiative, non-resident Pakistanis can now acquire or receive financing for housing in Pakistan using their Roshan Digital Account (SBP).
“I believe that this [program] will help us attract plenty of money since Pakistan needs dollars, and Pakistanis are the sole source for reducing the gap between exports and imports,” the prime minister said during the ceremony.
He added that due to the enormous volumes of imports, Pakistan was confronted with current account deficit difficulties, hoping that the new system would reduce the import/export gap.
PM Imran also said that the plan would assist the government in attracting potential investment from nine million Pakistanis living outside the country.
Sustainable growth would also be demonstrated in the country by facilitating the overseas Pakistanis in the housing sector under the initiative. “There must be confidence in Pakistanis based overseas so that they invest at home without being afraid of fraud,” he added.
Prime Minister Imran emphasized that the country’s corruption was one of the main obstacles to investment by Pakistanis from overseas: “A section of individuals who are accustomed to working in a society without corruption wouldn’t choose to work in corrupt societies.”
The prime minister mentioned meeting several overseas Pakistanis who were interested in investing in the country but were compelled not to do so due to corrupt mafias. “A number of individuals told me about a plot they bought in Pakistan that was later unlawfully occupied,” Imran Khan added. He pointed out that the government was conducting “jihad” against a vast network of land occupiers.
The prime minister explained what makes Roshan Apna Ghar unique is that banks are engaged in the initiative, which will boost the trust of Pakistanis living abroad. He noted that his government implemented business-friendly changes.
Reza Baqir, Governor SBP, remarked that the effectiveness of digital technology has removed all of the obstacles Pakistanis from abroad faced previously while investing in housing.
Dr. Baqir stated that the State Bank of Pakistan would continue to make it as easy as possible for overseas Pakistanis to invest with the cooperation of all stakeholders.
Earlier, Shaukat Tarin, Minister of Finance and Revenue, stated during the event that the initiative would help keep money coming through the Roshan Digital Account. In the real estate industry under the program, he noted that substantial investments are envisaged.
Shaukat Tarin further remarked that the RDA has demonstrated great success, making a significant investment in Naya Pakistan Certificates worth more than $1.4 billion.
Source: Submit123News
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