Prime Minister Imran Khan launched ‘Pakistan Banao Certificates’ scheme to attract investment from overseas Pakistanis to help strengthen the national economy. The PTI government wants to raise one billion dollars through the sale of these certificates to overseas Pakistanis.
According to official twitter handle of Imran Khan’s PTI, the Pakistan Banao Certificates is the first initiative of its kind for Overseas Pakistanis. They get a unique opportunity to safely invest their savings with higher profits rates than United States, Europe, Gulf countries while helping build Pakistan. Overseas Pakistanis will be able to earn profits from their investment in certificates.
Pakistanis having CNIC/NICOP or holders of POC having bank accounts outside Pakistan are eligible to buy the Pakistan Banao Certificates.
The total scheme is worth one billion dollars.
The minimum investment is $5000 and any integral multiples US$ 1000 in excess thereof with no maximum limit.
Profit distribution is in US dollars (to the investors designated account abroad or in Pak Rupees in Pakistan)
Premature encasement in PKR can be done anytime without levy or penalty.
Profit rate on three years plan will be 6.25 percent payable bi-annually
Profit rate on five years plan will be 6.75 percent payable bi-annually
Further incentives include exemptions from withholding tax and compulsory deduction of zakat.
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17 November, 2019