Pakistan opens up to foreign investment

ISLAMABAD: The government on Monday expanded the scope of the Roshan Digital Account (RDA) Scheme to include foreign nationals and institutional investors, from overseas Pakistanis only at present, Finance Minister Muhammad Aurangzeb announced.

He said the government had decided to expand the RDA framework to allow foreign nationals, companies, and institutional investors to open RDAs and invest in government securities and Naya Pakistan Certificates, which offer very attractive rates of return. He said that this important step reflected the government’s commitment to further integrating Pakistan into global financial markets and to attracting foreign investment through a secure and transparent digital banking platform.

The minister noted that Pakistan’s diaspora of around 11 million people represents one of the largest and most vibrant expatriate communities in the world. In every part of the globe, from the Middle East to Europe, from North America to the Far East, Pakistani professionals, entrepreneurs, workers and students are contributing to their host economies while continuing to support their families and communities back home. He said that overseas Pakistanis are not only a source of economic strength for the country but also serve as ambassadors of Pakistan’s culture, enterprise and values around the world.

Highlighting the role of overseas Pakistanis in strengthening the national economy, Mr Aurangzeb said that, according to the State Bank of Pakistan,........

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