Prime Minister Imran Khan launched the much anticipated Naya Pakistan Certificates (NPCs) for overseas Pakistanis to incentivise investment. NPCs can be obtained in both Shariah and conventional versions.
NPCs is an initiative by the Ministry of Finance and managed by State Bank of Pakistan (SBP) in order to attract overseas Pakistanis and those living in Pakistan who held their assets abroad by offering investment opportunities.
While addressing the gathering, Prime Minister Imran Khan enlightened the difficulty his finance team had faced to put the country on a path of prosperity.
PM Imran Khan also addressed the contribution made by overseas Pakistanis and recognized the role they have played in dealing with external account deficit. He also said that his government is constantly working on advanced inventiveness to offer ways of investment and saving opportunities for Pakistanis living outside of the country.
He talked about Roshan Digital Accounts (RDA) which is an initiative by central bank and widely accepted by overseas Pakistanis. Through RDA you can open your bank accounts remotely and without visiting any office. RDA offers advanced level banking, payment and investment solutions for million of Pakistani individuals living abroad.
In the Naya Pakistan Certificates ceremony, Premier Imran Khan also praised the effort made by Finance Minister Dr. Abdul Hafeez Sheikh and Governor State Bank Dr. Reza Baqir for their outstanding effort to launch Naya Pakistan Certificates.
NPCs are issued by the Government of Pakistan under the Public Debt Act, 1944, and NPC Rules 2020. These certificates are purchasable through only Roshan Digital Accounts.
The minimum investment USD denominated certificate is $5,000, which can be increased and does not have any maximum limit. However, for the PKR denominated certificates the minimum investment is PKR 100,000 which can also be increased by integral multiples of PKR 10,000 with no maximum limit.
The return value on NPCs is subject to a 10 percent withholding tax, which is a full and final payment of tax duty on NPC profits. In addition to this, overseas Pakistani are expected to file their tax return on account of their earnings on NPCs.
All the relevant information about NPCs is available at https://www.sbp.org.pk/NPC/index.html.
