Withdrawals from Roshan Digital Accounts: rumor turned into reality

[Jango]

Could have checked from the source itself:

View attachment 871195


Now eat your words:

View attachment 871197

The funds received column is cumulative, not absolute per month. Nice hera pheri by the SBP (and perhaps by you) to prove a point.

As another member said, the real taste of the pudding lies in the monthly delta of funds in vs out, and then the trend.

 

[Imran Khan]

only people have no brain will give dollars to PDM

 

[Mav3rick]

Yes very clever- mentioning the funds received but not mentioning the funds withdrawn or current balance.

The truth is that overseas Pakistanis are pulling their money out. It was never a rumor, just a fact. If you don’t want to believe that, then by all means put your money where your mouth is and invest in the certificates too.

Cumulative position at the end of Jun 22 was 4.6 Billion and at the end of Jul 22 was 4.8 Billion (both rounded off) ...... and you still cannot identify that it is growing every month?

Unless, you thought the funds received in Jun 22 were 4.6 Billion and in Jul it was 4.8 Billion?

 

[PradoTLC]

Yup i also stop sending money to roshan account after IK gov fell

 

[Mav3rick]

The funds received column is cumulative, not absolute per month. Nice hera pheri by the SBP (and perhaps by you) to prove a point.

As another member said, the real taste of the pudding lies in the monthly delta of funds in vs out, and then the trend.

Cumulative position at the end of Jun 22 was 4.6 Billion and at the end of Jul 22 was 4.8 Billion (both rounded off) ...... and you still cannot identify that it is growing every month? Can you not calculate the difference of USD 188 Million in cumulative position at the end of Jun-Jul? And that is the cumulative position. I am confident that you would be aware of what cumulative position means.

So cumulative position is the net result after all ins and outs at the end of the months which stood at USD 4.6 Billion and 4.8 Billion by end of June and July respectively which also means any withdrawal was trumped by funds credited.

View attachment 871275

 

[Zibago]

recall what Noon league did right after the nuclear tests were conducted. it confiscated/ blocked froze the foreign currency accounts of entire Pakistan. what was done to the foreign exchange by the Noon league ministers is anyone's guess. my guess is, that the actions afterword's were only in self interest and not national.

My point exactly

Take your money and invest in Dubai instead like the (imposed) leaders who rule Pakistan right now

 

[Samlee]

This goon league has frozen dollar accounts in the past Pakistanis overseas have good reason to take their money out

 

[Olympus81]

The SBP table seems quite misleading.

- Month column says cumulative. RDA accounts with close to 0 $ are considered?
- Number of accounts seem to be cumulative.
- Funds ‘Received’ is cumulative. Its the cumulative funds received, not net position of all RDA account funds. (Net of ins and outs)
- Stock exchange - ambiguous. Is it cumulative (net of ins and outs) or just the funds received.

 

[Olympus81]

Simple fix would be

- Total Month on Month position of all RDA accounts (net of ins and outs)

- %age +/- MoM

- Average size in $ of each RDA account

- Number of active accounts (having $10 or above for eg)

 

[Irfan Baloch]

Coming from such a senior and respected member, I am saddened. All my household income was also in USD accounts as my father was in merchant Navy; the freeze was because of immediate application of severe and global sanctions against Pakistan, withdrawal of international support and blocking ways of all foreign currency; the foreign currency with the GoP was all it had for imports aside from Saudi Oil support.

And the Government froze withdrawal of foreign currency but gave the option to withdraw PKR @ 45/USD!

As for your last sentence, I am sure even you yourself don't really believe it.


It wasn't useless Rupees. The exchange rate offered was quite decent; the only thing you are complaining about is the fact that your family, like mine, could not exploit the situation and the exchange rate in the open market.....which would have been to the detriment of Pakistan, but who cares, right?


Really? A massive hit? What a load of crap!!!

a cabinet member at that time did exploit the situation due to insider information.
he withdrew the USD.


yes we were given Pak rupee alternative. my point is, the actions by rulers of Pakistan are not always in national interest. otherwise they will never become controversial and seen as suspicious even by population that has no political affiliation.

 

[Ssan]

Cumulative position at the end of Jun 22 was 4.6 Billion and at the end of Jul 22 was 4.8 Billion (both rounded off) ...... and you still cannot identify that it is growing every month?

Unless, you thought the funds received in Jun 22 were 4.6 Billion and in Jul it was 4.8 Billion?

View attachment 871275

Nope it’s not the cumulative position- it’s cumulative funds received- read the column head again

 

[ADIL SHERDIL]

It was bound to happen and things will get worse under current regime which has no confidence of the people. they are not allowed to vote then why is this govt expecting them to put dollars in RDA. 98 is a good example qarz utaro mulk sawaro , while those who made this slogan got filthy rich and are settled abroad.

 

[redgriffin]

Could have checked from the source itself:

View attachment 871195


Now eat your words:

View attachment 871197

Where are the withdrawals? There is a way & design to interpreting financial information. Relying on half-baked piecemeal data leads to wrong conclusions.
Also may I ask if you have any financial education, I mean an academic or professional qualification in this field?

 

[ziaulislam]

My family learned the hard way during that. All hard earned dollars we saved up were gone and we got useless rupees for it. This was at a time when we didn’t even own a car in Canada.

Hence why people i knew never invested
When i told him khan is going to be there for 10 years atleast i hear a large laughter..

Now i understand why they laughed

 

[redgriffin]

Hence why people i knew never invested
When i told him khan is going to be there for 10 years atleast i hear a large laughter..

Now i understand why they laughed

Because our elders know & have been bitten by the gaggle of snakes better known as PMLN & PPP. I would like to add certain circles to this category as well & it pains me to do so because people in my family have been a part of these circles since before Partition & have bled for this country. I for one never entertained the thought in my mind that they would turn out to be as self serving as any other jackass in this God Forsaken Country.