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Roshan digital account inflows cross $1 5bn mark: PM

Daily Times Urges youth to gear up for country’s biggest tree planting drive June 28, 2021 Prime Minister Imran Khan has said that Roshan Digital Account (RDA) has achieved more milestones as the inflows crossed $1.5 billion on Friday and investment in Naya Pakistan Certificates is surpassing $1 billion. In a tweet on Sunday, the prime minister while sharing the good news from the State Bank of Pakistan said the accounts and deposits have set new records since achieving the milestone of $1 billion two months ago. PM Khan inaugurated the Roshan Digital Accounts (RDA) service in September as part of a joint effort by the State Bank of Pakistan (SBP), the government, and eight commercial banks to integrate overseas Pakistanis with the country’s banking system.

Economy pivoting towards growth

‘Economy pivoting towards growth’ So far, the IMF has disbursed around $2 billion to Pakistan under its Extended Fund Facility (EFF) of $6 billion. PHOTO: REU-TERS KARACHI: The International Monetary Fund’s (IMF) loan programme is working in the right direction as Pakistan has revised up its economic growth projection to 4% for the current fiscal year ending on June 30 and foreign currency reserves are hovering around four-year high at $16 billion. “Right now, the IMF programme is in a stage of pivoting from stabilisation to growth,” said State Bank of Pakistan (SBP) Governor Reza Baqir. In most IMF programmes, there is a transition that takes place.

Baqir calls for steps to enhance women financial inclusion

Baqir calls for steps to enhance women financial inclusion Says forthcoming Banking on Equality Policy will introduce gender lens in financial sector Pakistan and the IMF have been working to implement IMF-supported economic reforms. PHOTO: REUTERS KARACHI: Women are disproportionately excluded from accessing resources and opportunities and targeted measures are needed to achieve financial inclusion, said State Bank of Pakistan (SBP) Governor Reza Baqir. Moderating a session titled “Consultative Dialogue on SBP’s Banking on Equality Policy” on Tuesday, he said that strategies for achieving financial inclusion had an implicit assumption to utilise each citizen, both men and women, as a driving agent to achieve development goals.

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