SBP shares ini­tia­tives to con­nect Non-Res­i­dent Pak­ista­nis fi­nan­cially with home­land

Daily Messenger - - Biz -

KARACHI: he Gov­er­nor State Bank of Pak­istan, Dr. Reza Baqir, said that the State Bank of Pak­istan (SBP) is fully com­mit­ted to fa­cil­i­tat­ing over­seas Pak­ista­nis to re­main fi­nan­cially con­nected with their home­land. He was speak­ing to Over­seas Pak­ista­nis in a we­bi­nar or­ga­nized by the Pak­istan Em­bassy in Washington D.C.

Wel­com­ing the Gov­er­nor, the Am­bas­sador of Pak­istan to the U.S., Dr. Asad M. Khan, high­lighted that the Gov­ern­ment at­taches high­est im­por­tance to serv­ing the Pak­istani Amer­i­can di­as­pora, who play a cru­cial role in Pak­istan’s na­tional devel­op­ment. In this re­gard, he men­tioned that the Gov­ern­ment had taken a num­ber of steps to fa­cil­i­tate Pak­ista­nis liv­ing abroad. He noted the sig­nif­i­cant role played by Pak­istani Amer­i­can com­mu­nity, which is the third largest con­trib­u­tor of re­mit­tances to Pak­istan. The Am­bas­sador fur­ther added that the Em­bassy and its Con­sulates Gen­eral across U.S. re­main in close con­tact with the Pak­istani Amer­i­can com­mu­nity to reg­u­larly brief them on developmen­ts back home and to ex­plore av­enues for co­op­er­a­tion. In this con­text, the Am­bas­sador men­tioned that to­day’s we­bi­na­rof­fereda unique op­por­tu­nity for the Pak­istani di­as­pora to di­rectly in­ter­act with Gov­er­nor State Bank and his team and to share their views and feed­back. He thanked Gov­er­nor for tak­ing this ini­tia­tive and spar­ing time to en­gage with the di­as­pora and ed­u­cate them about the Gov­ern­ment’s ef­forts to make bank­ing trans­ac­tions eas­ier for its ci­ti­zens and com­mu­nity liv­ing abroad.

While brief­ing the au­di­ence about the state of the econ­omy, the Gov­er­nor re­marked that the de­ci­sive mea­sures taken by the State Bank and the gov­ern­ment be­fore the COVID-19 pan­demic had helped ad­dress the bal­ance of pay­ments cri­sis that the new gov­ern­ment had in­her­ited. In turn, these bold steps had placed the econ­omy on a stronger foot­ing, help­ing to pro­vide room for pol­icy ac­tion to com­bat the pan­demic. He dis­cussed the var­i­ous mea­sures taken by SBP and the Gov­ern­ment dur­ing the pan­demic to safe­guard com­mon peo­ple and busi­nesses. He ex­pressed con­fi­dence about the re­cent re­sump­tion of eco­nomic ac­tiv­ity as COVID-19 cases have re­ceded sig­nif­i­cantly thanks to stead­fast ac­tions by the gov­ern­ment and lock­downs have been eased in the coun­try. Look­ing ahead, he was con­fi­dent that the econ­omy would re­sume along the path of sta­bil­ity and re­cov­ery on which it had made strong progress be­fore the pan­demic.

Elab­o­rat­ing the ef­forts of SBP for fa­cil­i­tat­ing over­seas Pak­ista­nis, Dr. Baqir said that SBP is fo­cus­ing on fa­cil­i­tat­ing them by pro­vid­ing a se­cure and ef­fi­cient fi­nan­cial sys­tem through dig­i­tal means. He out­lined SBP’s com­mit­ment to a dig­i­tal fi­nan­cial ecosys­tem, that would fea­ture ef­fi­cient and se­cure pay­ment and bank­ing sys­tems in the coun­try. Elab­o­rat­ing fur­ther, he said that SBP and the Gov­ern­ment are ac­tively work­ing for fur­ther fa­cil­i­ta­tion of over­seas Pak­ista­nis by in­creas­ing their ac­cess to fi­nan­cial mar­kets of Pak­istan.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.