Prime Minister Imran Khan on Thursday said that the Roshan Digital Account is a big step for Pakistani expatriates to participate in nation-building.
“Our biggest asset is the overseas Pakistanis and we were unable to tap their potential previously,” said the premier, at the outset of his address to the gathering.
The prime minister said that progress made by India and China can be linked to their expatriate community.
“The way we should have brought overseas Pakistanis back and helped them in nation-building, we couldn’t do that unfortunately. Hence, the opening of this Roshan Digital Account is a big step for Pakistan.”
Listing various new projects, such as the Ravi City waterfront project and the ML-1 railway project, he said the help of overseas Pakistanis is needed for all of them.
PM Imran said that nearly half of the government’s revenue is spent on payment of loans and there is a need for the country to move towards wealth creation.
In a press release issued earlier today, Prime Minister’s Office said that the initiative by the central bank will work with commercial banks operating in Pakistan.
“For the first time in the country’s history, Non-Returning Pakistanis (NRP) will be able to remotely open an account through an entirely digital and online process without any need to visit a bank branch, embassy, or consulate,” It said.
“The customer can choose either foreign currency or rupee dominated account, or both. Funds in these accounts will be fully repatriable, without the need for any regulatory approval,” the statement read.