SBP Refutes Reports of Large Withdrawals From Roshan Digital Accounts

The State Bank of Pakistan has rejected the reports of large withdrawals from Roshan Digital Accounts (RDAs) by overseas Pakistanis and sudden fall in the country’s Foreign Exchange Reserves. The central bank has termed all such reports of withdrawals from Roshan Digital Account (RDA) as Fake News.

Earlier, there were reports on social media regarding overseas Pakistanis withdrawing huge sums out of their Roshan Digital Accounts (RDAs) as Prime Minister Imran Khan was ousted from office with a no-trust motion in the National Assembly.

However, the State Bank of Pakistan (SBP) has clarified that such reports being spread on social media are Fake News and no large withdrawals are being made from Roshan Digital Accounts. “SBP rebuts fake news on social media about large withdrawals from Roshan Digital Accounts and slowdown in inflows.” said the Central Bank.

Meanwhile, the SBP confirmed that current inflows are strong at around $86 million for April 2022 and there are no abnormal outflows, while inflows have no surpassed $4 billion.

#SBP rebuts fake news on social media about large withdrawals from #RoshanDigitalAccount and slowdown in inflows. So far in April, inflows are very strong at around $86 mn & there are no abnormal outflows. Total inflows have now surpassed $4bn.
— SBP (@StateBank_Pak) April 11, 2022

According to the State Bank of Pakistan, the country’s Liquid Foreign Exchange Reserves stand at Rs. 17.48 billion as of 1^st April 2022. The update was provided by the SBP on 7^th April 2022.

Total liquid foreign #reserves held by the country stood at US$ 17.48 billion as of April 01, 2022. For details: https://t.co/WpSgomnd3v pic.twitter.com/qzwGVJOsLE
— SBP (@StateBank_Pak) April 7, 2022

However, there are protests being carried out in London by PTI supports against the removal of Imran Khan as Prime Minister of Pakistan. In a video of the demonstrations being held at Hyde Park in London, the protesters were heard chanting slogans of “No Imran, No Remittance,”

“No Imran, No remittances” PTI supporters protest against “regime change” at Hyde Park, they say “we won’t send any remittances until Imran Khan comes back. pic.twitter.com/iJNino3uDc
— Farid Ahmed (Qureshi) (@FaridQureshi_UK) April 10, 2022

Meanwhile, the Opposition’s joint candidate and PML-N leader Shehbaz Sharif has been elected as the 23^rd Prime Minister of Pakistan after securing 174 votes as opposed to PTI’s candidate Shah Mehmood Qureshi, who received no votes after his party members decided to boycott the election process and submit their resignations from the assemblies.

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