Investment in stock market

Investment in residential and commercial real estate

The accounts can be opened in any or both of these currencies, i.e., U.S. Dollar or Pakistani Rupee. Also, you can acquire the Naya Pakistan Certificate NPC with only a 10% withholding tax on profits. Overseas Pakistanis can open accounts in any of Conventional or Shariah Compliant Banks registered for RDA. The government of Pakistan has provided a spectacular opportunity to the Pakistani diaspora to invest in the residential or commercial real estate sector of Pakistan. As the property sector has already gained a boom due to the amnesty scheme and Rs. 100 billion relief packages announced by the government for the construction industry. Recent figures signify that cement output grew up to 21.32 % during October. Whereas, the production of paints and varnishes was up by 42.82 %. The figures denote elevated investments and massive activities in the construction sector. The real estate sector is expected to take the projects worth Rs. 400 Billion by the end of 2020. Therefore, the overseas Pakistanis can invest in the highly productive real estate sector as well.

The account holders in the Roshan Digital Accounts (RDA) initiative need not be worried about the reversal of the funds. As the funds are repatriable without a need to seek approval from SBP. However, the response of the overseas Pakistanis was remarkable. According to the latest figures, 40,000 accounts had been opened so far. Alongside, 1000 accounts are being added to the list every day.

Pakistani diaspora is the 6th largest diaspora over the globe. The initiative is aimed at catching the resources of the Non-Resident Pakistanis (NRPs), said the Prime Minister of Pakistan. Statistics say that 8.5 million Pakistanis live in different countries, work there, and send remittances back to the country. According to the figures released by the State Bank of Pakistan (SBP), the country had received $21.84 Billion remittances during 2019-2020. While $2.28 Billion is sent by overseas Pakistanis during October only. The figures are encouraging enough to be utilized for the revival of the economy.

Pakistani diaspora has immense potential to elevate the economy. The contributions of Patriotic Pakistanis in the affairs of the country is always commendable. Whether it is a natural disaster, making donations for community welfare, or investing in different arenas such as the real estate sector. The Roshan Digital Account Initiative had created an accessible atmosphere for the overseas Pakistanis. They can now remit their hard-earned money to their motherland. And contribute to the prosperity of the country.

Written by Kulsoom Bashir
Creative Content Writer/Blogger
Pages: 1 2

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