According to figures issued by the State Bank of Pakistan (SBP), foreign money inflows through the Roshan Digital Accounts (RDAs) totaled $3.632 billion by the end of February 2022.
In February 2022, the country received $250 million in inflows, up from $222 million in January, a month-on-month rise of $28 million or 12.6 percent.
Since the program’s inception, 365,182 RDAs have been opened, according to official figures. The number of accounts opened increased by 6.6 percent on a monthly basis.
Furthermore, from September 2020 to February 2022, total investments made through RDA inflows reached $2.529 billion.
So far, $1.352 billion has been invested in traditional Naya Pakistan Certificates (NPCs), whereas $1.142 billion has been invested in Islamic NPCs. In the meantime, the Roshan Digital Accounts (RDAs) made a $35 million deposit at the Pakistan Stock Exchange (PSX).
Since the introduction of Roshan Digital Accounts (RDAs), the government has taken a number of initiatives to make the programme more acceptable, as well as adjustments to reduce the cost of tax compliance for Pakistanis living abroad.
Non-Resident Pakistanis (NRPs) can easily open and handle these accounts because the government has simplified and simplified the taxation process.
Finally, Pakistan’s consistent upward trend of RDA inflows may be able to alleviate the pressure on the balance of payments.
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