Pakistan's flagship scheme for courting diaspora savings is losing a little steam just as its obligations grow. Gross inflows into the Roshan Digital Account (RDA) fell to $282m in July 2026, down from $306m in June, according to data from the State Bank of Pakistan (SBP). Meanwhile, the net repatriable liability, the money that overseas depositor could in principle take back out of the country, rose by 45% year-on-year to $2.93bn.
The July dip ended a run of monthly inflows above $300m in April, May and June. The scheme still provides valuable support to Pakistan's external account, but momentum has softened at the start of the new fiscal year. Since its launch in September 2020, the RDA has drawn cumulative inflows of $13.647bn. Of that sum, $2.118bn has been repatriated and $8.603bn spent or invested locally. Together these account for $10.721bn, leaving the net repatriable liability at $2.926bn.
Depositors have so far shown little inclination to withdraw their money. Repatriation amounts to just 16% of everything the scheme has ever received. Even so, the swelling balance that could be sent abroad represents a growing contingent claim on the country's foreign-exchange reserves.
Recruitment of new customers, by contrast, picked up. Some 10,589 accounts were opened in July, the strongest tally since October and up from about 10,000 in June, according to a research analyst. The rise ends a softer patch recorded in February and March.
Account openings have stayed within a narrow range of 8,000 to 11,000 a month for two years. Analysts describe that steadiness as notable for a scheme that is almost six years old and still signing up customers at roughly the pace it managed at the outset. The cumulative account base now stands at 956,790. At the current rate, the scheme should cross the one-million mark within about four months, a symbolic milestone for the programme.
The longer-term trend in deposits remains upward. Inflows in the 2025-26 fiscal year totalled about $2.80bn, compared with $2.31bn in 2024-25, lifting cumulative receipts to some $13.6bn.
Depositors are also seeking higher returns rather than leaving balances idle. Funds moved from ordinary accounts into certificates during July, while Roshan Equity, the scheme's stock market investment option, doubled year-on-year to $151m.
The picture is therefore mixed. New customers keep arriving and existing ones are putting their money to work, yet monthly inflows have eased and the sum that could leave the country has risen sharply. For a government that leans on diaspora money to steady its external finances, that growing liability will merit close attention.