Pakistan has received inflows of $9.768 billion through the Roshan Digital Account (RDA) initiative from September 2020 to February 2025, providing crucial support to the country’s foreign exchange reserves, according to data released by the State Bank of Pakistan (SBP).
In February 2025, monthly RDA inflows declined to $204 million, down from $222 million in January. Despite the drop, the RDA initiative continues to attract overseas Pakistanis, aiming to boost foreign investment. The country relies on such inflows to address its current account deficit and strengthen foreign exchange reserves.
As of March 14, the SBP’s reserves stood at $11.15 billion, sufficient to cover more than two months of imports. During the first eight months of FY25, Pakistan recorded a current account surplus of $691 million, although February saw a minor deficit of $12 million. Meanwhile, remittances from overseas workers surged by 33 percent, reaching $24 billion during the July-February period of FY25.
By the end of February, the number of digital accounts opened under the RDA initiative reached 797,350. Of the total inflows, $1.72 billion was repatriated, while $6.18 billion was utilized within Pakistan. The net repatriable liability stood at $1.86 billion.
The latest RDA figures come as Pakistan works to meet the International Monetary Fund’s (IMF) requirements to secure a staff-level agreement. This agreement is critical to unlocking the second $1 billion tranche of the $7 billion Extended Fund Facility (EFF) loan programme. The IMF completed the first review of the EFF earlier this month.
SBP data also revealed that net investments of $1.38 billion have been made through the RDA initiative since its launch. Of this, $459 million was invested in conventional Naya Pakistan Certificates (NPCs), while $860 million was invested in Islamic NPCs. Additionally, $59 million was invested in Roshan equity investments, and other liabilities amounted to $37 million. The remaining balance in RDA accounts stands at $450 million.
