Roshan Digital Account Inflows Cross $10.7 Billion as Govt Raises Rs865b via Debt and Sukuk Auctions

KARACHI:
Remittances through the Roshan Digital Account (RDA) continued to grow, with cumulative inflows reaching $10.748 billion by the end of July 2025, according to the latest data from the State Bank of Pakistan (SBP). This marks an increase from $10.563 billion recorded at the close of June.

During July alone, overseas Pakistanis sent $185 million, slightly higher than June’s $182 million but below the $201 million received in May.

Rising Registrations and Investments

The number of account holders under the RDA scheme also expanded, climbing by 10,619 in July to reach a total of 842,582 registrations, up from 831,963 in June.

By July’s end, investments under the scheme stood as follows:

• $479 million in Naya Pakistan Certificates (NPCs)

• $936 million in Naya Pakistan Islamic Certificates (NPICs)

• $75 million in Roshan Equity Investments

Government Borrowing Through Auctions

To meet its financing needs, the government raised Rs865.2 billion through debt instruments, including Ijara Sukuk and treasury bills.

• Market Treasury Bills (MTBs):
  The SBP raised Rs526.974 billion across one-month, three-month, six-month, and 12-month maturities. Cut-off yields remained stable between 10.85% and 11%. In the latest auction, the central bank collected Rs527 billion, surpassing the Rs450 billion target. Investor bids totaled a strong Rs1.314 trillion.

• Pakistan Investment Bonds (PIBs):
  An additional Rs109.25 billion was secured through 10-year floating-rate PIBs, sold at a cut-off price of Rs95.5244.

• Ijara Sukuk Auction:
  The government also generated Rs228.99 billion via Ijara Sukuk issued at the Pakistan Stock Exchange, exceeding the Rs200 billion target. Investor demand was notable, with bids amounting to Rs626.85 billion.

Currency Update

Meanwhile, the Pakistani rupee extended its positive run, inching up by one paisa to close at 281.95 per dollar in the interbank market — its ninth consecutive session of gains.