Remittances from overseas Pakistanis are a major source of revenue for Pakistan’s economy. These remittances are received by their family members and friends. As these remittances are sent in US dollars, when converted to PKR, they offer a lucrative source of revenue for the economy. A major portion of these remittances finds its way into the residential and commercial real estate sector.
According to estimates from the State Bank of Pakistan, more than 50% of the remittances find their way into the property sector. This is because overseas Pakistanis wish to invest their life savings in a secure investment avenue with a lucrative return on investment (ROI).
In 2020-21, overseas Pakistanis sent a record 29.7 billion USD in remittances. To tap the potential of these investments, the State Bank of Pakistan (SBP) has launched several initiatives like the Roshan Digital Accounts (RDA) and Roshan Apna Ghar (RAG) scheme.
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