PM launched Buna-Raast connectivity project to boost remittances
Prime Minister (PM) Shehbaz Sharif launched the Buna-Raast connectivity project to boost remittances from Arab nations. It is a big step towards improving Pakistan’s digital payment infrastructure.
Millions of Pakistanis living abroad in Arab nations can send remittances quickly and economically by connecting Pakistan’s Raast payment system with the Arab Monetary Fund’s Buna platform through this project.
Prime Minister emphasized that this project might increase Pakistan’s foreign exchange reserves and strengthen relations with the Arab world.
He also stated the Buna-Raast connectivity project is the first cross-border real-time payment linkage increasing accessibility to remittances and lowering user costs.
PM Shehbaz Sharif launched the Buna-Raast connectivity project in Islamabad. He said this project symbolizes how 21st-century Pakistan is moving forward by merging modern technologies into daily life.
PM continued the project would open the door for further regional payment systems which might process more than $20 billion in transactions annually.
He also thanked the Arab Monetary Fund, the State Bank of Pakistan, the Finance Ministry, the Bill and Melinda Gates Foundation, and Karandaaz for launching the project.
The PM pointed out that the digitalization of financial transactions would increase efficiency and transparency. It would be helpful for women especially, those who hold 90% of remittance beneficiaries.
Prime Minister Shehbaz Sharif also announced that he would present a five-year plan for economic revival in the upcoming weeks. He said board parameters had already been finalized through months-long talks with the stakeholders for the five-year economic plan.
He said the “Home-Grown Economic Programme” will include initiatives to strengthen the nation’s economy. It will bring advancements in IT, agriculture, and other unexplored fields.
According to Shehbaz Sharif, they are recently discussing this program which he will announce publicly shortly. They recently finalized its general parameters. They will complete it by next week or so.
Read More:
- Former journalist Syed Abdullah Hassan died in Karachi at 40
- Pakistanis can now travel from Pakistan to China through a bus
- Pakistani man arrested in New York in alleged plan to kill Jewish people
- Pervaiz Musharraf’s family property auctioned for INR 1.38 Crore in UP
- FBR announced tax card for salaried employees. Here all you need to know
- LHC ordered removal of Lt. General Munir Afsar as NADRA Chairman
Share this content:
Post Comment