Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said interest of overseas Pakistanis is increasing in the Roshan Digital Account (RDA).

The investment in RDA has surpassed two billion dollars during in eleven months which is a laudable initiative of the SBP and its Governor Dr. Reza Baqir, he said.

Mian Zahid Hussain said that the success of RDA is helping the economy while steps are being taken to boost the remittances using different tools.

Talking to the business community, the veteran business leader said that RDA attracted one billion dollars by 24 April, deposits jumped to 1.5 billion dollars by 27 June while the deposits are increasing at a rapid pace which reflects the confidence of overseas Pakistanis in the government.

He said that government will shortly announce a reward scheme for those sending remittances to encourage them which may improve remittances.

The business leader noted that demand for the US dollar has eroded the exchange rate pushing rupee to a ten-month low as the dollar was sold at Rs164 per dollar.

He said that the government should stop the fall of the local currency against the dollar to provide relief to the masses and the business community.

The IMF has planned to pump 650 billion dollars into the global economy to boost it and Pakistan will get 2.8 billion dollars in six days under the plan which will strengthen forex reserves and local unit.

He said that there are thin chances for further erosion in the exchange rate which will stabilize the economy and provide relief to importers.