KARACHI: Pakistan President Dr. Arif Alvi has inaugurated a property exhibition for the UAE based Non-Resident Pakistanis (NRPs) arranged by Pakistani banks offering Roshan Digital Account (RDA), in partnership with builders and developers, to showcase their products being offered under RDA.
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 families’ housing needs in Pakistan, according to a statement issued by the State Bank of Pakistan (SBP) on Saturday.
Abdul Razak Dawood, Advisor to Prime Minister on Commerce, Textile, Industries & Production and Investment was also present at the occasion.
The exhibition was attended by 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 significantly contributed towards development and economic growth of UAE and most of them regard UAE as their second home. He said that UAE is a major destination for Pakistani workers and their contribution in remittances is significant.
He observed that SBP, with the active support of commercial banks, has provided NRPs a unique opportunity to buy a home that hitherto, had been a very difficult task for various reasons. He felt satisfied that finally an end-to-end digital process had made it possible for NRPs. He shared his thoughts divulging on various strengths as a nation that Pakistanis should be proud of.
In his welcome address, Governor SBP, Dr. Reza Baqir expressed his heartfelt gratitude to President Dr. Arif Alvi for sparing time and inaugurating the exhibition. He said that SBP has been able to introduce RDA and Roshan Apna Ghar following the vision of Prime Minister Imran Khan to integrate the NRPs with the country’s economy.
Recounting the massive success of RDA, the Governor elucidated that RDA has proved to be a huge success and become a household name connecting over 250,000 NRPs under one umbrella besides attracting over USD2.5 billion since its launch in September last year.
Adding further, he said that the overwhelming success of RDA and Naya Pakistan Certificates (NPCs) speak 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 odds.
He noted that economy was heading in 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, Abdul Razaq Dawood assured the audience that economy is heading in the right direction and maintaining a healthy growth path. He especially mentioned textile and cement sector where growth trends are remarkable, while automobile, consumer goods and food and likes are following similar trend.
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.
Roshan Apna Ghar is an initiative of SBP for Non Resident Pakistanis (NRPs) to buy, build or renovate their homes in Pakistan through their own investment or bank financing.