The US dollar continued to build up against the Pakistani rupee in the interbank market on Wednesday, reported 24NewsHD TV channel.
Slowly but gradually, the greenback pressed ahead as the forex dealers reported that the dollar appreciated by 28 paisas as the trading concluded for the day with US dollar at Rs225.40.
Interbank closing #ExchangeRate for todayhttps://t.co/hd0LS9Mm4v pic.twitter.com/zPMABfoWPI
— SBP (@StateBank_Pak) December 21, 2022
On Tuesday, the US dollar concluded the business at Rs225.12.
Interbank closing #ExchangeRate for todayhttps://t.co/X5nO5miOiO pic.twitter.com/XPvgCc9YzV
— SBP (@StateBank_Pak) December 20, 2022
The soaring greenback reflects the delicate economic situation which the Pakistan financial managers were dealing with to shore up the depleting forex reserves.
In the latest of a set of steps taken by the authorities is the Roshan Pension Plan for overseas Pakistanis which the State Bank of Pakistan (SBP) has launched to digitally and remotely contribute to the scheme to financially secure their post-retirement life of the expats in Pakistan.
Through RPP, the overseas can enjoy an exclusive pension plan with zero front-end load and back-end fee and minimal fund management fee of up to 1.5%. The Roshan Pension Plan is a self-contributory defined contribution pension scheme open to all NRP Rupee Value Account (NRVA) holders 18 - 70 years of age.
Our valued NRPs pursuing a job or being self-employed abroad can avail of this product by contributing as low as Rs10,000 and start building up their financial asset to enjoy a regular stream of income after retirement. Contributions in RPP shall become part of an investment pool/fund which will provide a regular source of earning during the post-retirement life.
#RoshanNama December 2022 edition #OutNow. This initiative keeps #RoshanDigitalAccount holders updated on the latest developments, trends & overall economic prospects. Browse the latest edition: https://t.co/k1Mt5s1Zh5#overseasPakistanis #PakistaniPassport #RoshanNama
— SBP (@StateBank_Pak) December 20, 2022
The experts are of the view that it would create another window for the country to attract foreign exchange from nine million Pakistani diaspora worldwide. They termed the move beneficial for the struggling economy and said it would be a valuable new addition to the Roshan Digital Account (RDA) portfolio.
“The pension scheme will have the potential to attract investment worth millions of dollars into different saving plans as well as in development projects of the country”.
Reporter Ashraf Khan