PRESENT government indeed has taken unprecedented steps for facilitation of Overseas Pakistanis who have always proved to be a precious asset for the country by sending their precious remittances, which stood over twenty nine billion dollars during the last fiscal year.
Going a step further, State Bank of Pakistan (SBP) is now planning to launch this week a new product called Roshan Apna Ghar for non-resident Pakistanis for acquisition of property in the country.
The Central Bank had launched a major initiative Roshan Digital Account last year in collaboration with commercial banks which provide innovative banking solutions to millions of expatriates seeking to undertake banking, payment and investment activities back home.
Under this initiative, several financial products have been provided to the Overseas Pakistanis including Naya Pakistan Certificate for investment, Roshan Apni Car for car financing and Roshan Samaaji Khidmat for donation to charities.
Now Roshan Apna Ghar is being launched to facilitate the Overseas Pakistanis to easily buy or obtain financing with the comfort of sitting in their houses abroad without the need to visit a bank branch.
According to the SBP, under this scheme, the Overseas Pakistanis can buy or finance a house from bank’s pre -approved projects or any other property. In case of sale of property, the principal amount invested can be remitted abroad without needing any permission.
We are confident that like other products, this Apna Ghar Scheme will also prove to be a complete success as those sitting abroad have always shown their special interest to own or build a house in the home country. This scheme will help them turn their dream into reality.
Given the potential of Overseas Pakistanis, it is really imperative that they are encouraged for investment in other important sectors of the economy, especially the export-oriented industries.
We will suggest that our affluent class living abroad must be contacted and be wooed to come to Pakistan and take benefit from the investment opportunities in different sectors.
This will not only create immense job opportunities for our youth but also help the country bolster its exports — something which is important to take the country to achieve self-reliance and come out of debt trap.