Karachi, February 07, 2022 (PPI-OT):Highlighting the role of the SBP in helping the economy manage the fall-out from this global catastrophe, he said that a number of historic measures were rolled out in record time, providing relief to households and companies during Covid equivalent to around 5 percent of GDP. As a result, Pakistan’s economy only shrank by 1 percent in 2020, a much better outcome than in most of the rest of the world.

Discussing the economic outlook, he termed inflation and managing the current account deficit as two big challenges and expressed confidence that the country would bravely weather the aforesaid challenges in future, as a result of the forceful and timely actions to moderate domestic demand taken by the government and the State Bank of Pakistan in the last few months.

The Ambassador of Pakistan to KSA, His Excellency Lt. Gen (Rtd) Bilal Akbar welcomed the Governor to Riyadh. He said that despite the challenges posed by the Covid pandemic, remittances from KSA to Pakistan and trade and economic relations between Pakistan and the Kingdom are witnessing and upward trajectory.

He appreciated the initiative of RDA and expressed faith that it will not only help Overseas Pakistanis in channelling their income to secure investments but will also provide much needed financial independence to their families in Pakistan. Earlier, Executive Director, Banking Policy and Regulation Group of the State Bank of Pakistan, Mr. Arshad Mehmood Bhatti gave a detailed presentation on Roshan Digital Account and its allied products, including Naya Pakistan Certificates, Roshan Apni Car, and Roshan Samaaji Khidmat.

He highlighted the newest product made available through RDA, Roshan Apna Ghar which provides Overseas Pakistanis a very convenient means of buying property in Pakistan through bank financing or their own funds. Representatives of the Pakistani community living in the Kingdom took keen interest in the RDA and participated enthusiastically in the session.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: [email protected]
Website: www.sbp.org.pk