ISLAMABAD – Prime Minister Shehbaz Sharif has launched Buna-Raast connectivity project that aims at helping overseas Pakistanis in the Arab world to quickly send their money back home.
Under the project, Pakistan’s digital payment system, Raast, will be linked to Buna, which is established under the Arab Monetary Fund.
Speaking on the occasion, the premier said it is Pakistan’s first cross border real time payment system that will make remittances more affordable and accessible.
He said the project will further strengthen historic relations between Pakistan and the Arab World in a modern digital way.
Referring to the economic challenges, PM Shehbaz said he will soon unveil a five year home grown economic program. He said discussions have been held with stakeholders on it over the last many months. He said the five-year plan aims at uplifting the national economy and various sectors including agriculture and IT.
In his remarks on the occasion, Finance Minister Muhammad Aurangzeb expressed satisfaction that macro-economic stability is taking roots in Pakistan. He said the investor confidence is also coming back to the country.
Aurangzeb said remittances are a lifeline for Pakistan and the country received remittances of $3 billion in the month of July this year. He hoped that Buna-Raast initiative will further enhance remittances, state broadcaster reported.
Pakistani workers remittances surge by 47.6 percent year-on-year in July 2024
