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‘RDA to convert to digital banking’

Business

May 4, 2021

KARACHI: Roshan digital accounts will ultimately be converted into digital banking, Special Assistant to the Prime Minister for Overseas Pakistanis Sayed Zulfikar Bukhari said on Monday.

He was in a discussion with Azfar Ahsan, founder of Corporate Pakistan Group (CPG) and Nutshell Group, in an online live session from CPG dialogue platform titled “The Way Forward for Pakistan”. Discussing the problem of Hundi, he said the government is trying to attract overseas Pakistanis away from the use of Hundi and Hawala but to do that we have to match the ease of transfer and are working on it.

“With Roshan Digital Accounts, we are working to introduce different incentives programs to curb these indirect means of transferring money to the country.” To a question about assistance to SMEs planned by overseas Pakistanis, Bukhari said that all efforts are being made to make it a one-window operation, which also allows repatriation of funds with the ease of doing business.

He said he is trying to shift the entire operation directly under the prime minister so that swift decisions can be taken. About financing for SMEs, he said, the Bank of Punjab and Roshan Digital Account are working on it.

Bukhari also touched upon the criticism on the government for restricting the import of mobile phones, but that the outcome of this measure is that soon there will be three factories producing mobiles locally.

About the prospects for the tourism industry in Pakistan, he said, it has a great future, as now tourists are coming not only in summers but in large numbers during winters, as well.