The government and the State Bank of Pakistan have disputed unfounded allegations about Foreign Currency Accounts, Roshan Digital Accounts, and Safety Deposit Lockers that have been making the rounds on social media.
According to a joint statement issued by the SBP and the Ministry of Finance, the Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA), and Safety Deposit Lockers in Pakistani banks that their accounts and lockers are completely safe, and there is no proposal under consideration to restrict them.
“There are rumors circulating on social media that the government or state bank is contemplating blocking or restricting withdrawals from Foreign Currency Accounts, Roshan Digital Accounts, and Safety Deposit Lockers.” Such rumours are completely false and without foundation,” the statement said.
The central bank has said that such a suggestion is not being studied now or in the past. Furthermore, under the Foreign Currency Accounts (Protection) Ordinance 2001, foreign currency accounts, including Roshan Digital Accounts, are legally protected, and the Government and the State Bank are dedicated to preserving all financial assets in Pakistan, including the aforementioned.
The administration and the State Bank are taking all necessary steps to safeguard the country’s macroeconomic stability. The government’s recent painful choices, such as the removal of petroleum product subsidies, will pave the way for a deal with the IMF and the release of the IMF tranche, as well as financial support from other international organizations and friendly nations.
“We are optimistic that these actions will reduce the temporary stress caused by high global commodity prices and geopolitical concerns, and remove economic uncertainty,” the joint statement said.