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PM inaugurates 'Naya Pakistan Certificate' scheme

  • Imran says scheme will enable overseas Pakistanis to invest money in the country and get good returns
Published November 12, 2020
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(Karachi) Prime Minister Imran Khan has launched the ‘Naya Pakistan Certificates’ for Overseas Pakistanis, ARY News reported on Thursday.

Addressing the inauguration ceremony in Islamabad, the prime minister said that the Naya Pakistan Certificate scheme will enable overseas Pakistanis to invest money in the country and get good returns.

He stated, "Overseas Pakistanis are an asset of the country. "For the first time in 17 years, the current account deficit is in surplus," Imran mentioned.

He said that the State Bank Governor should motivate overseas Pakistanis to bring their money, especially dollars in the country. He said that the economic indicators of the country are showing a positive trend.

"We did not increased loan in the last four months which is a positive sign."

Regarding the sugar and wheat crisis, he said that unfortunately there is cartilisation and the mill owners increase the price themselves. "The government is taking measures to curb this practice and it will not happen in future," Imran pointed out.

Earlier, Senator Javed Khan said in a tweet post, “Yet another great news for our Overseas Pakistanis and those Pakistanis who have declared assets abroad with FBR. PM Imran Khan is launching Naya Pakistan Certificates by the State Bank of Pakistan (SBP).”

He also said that according to Shariah principles and rules, Islamic certificates are also available, the certificates will be available for a period of 3 months to 5 years.

The PTI leader said that even before the stipulated period, capital can be withdrawn, there will be NRPs and no tax filing will be required, only 10% holding tax will be applicable on net profit.

Faisal Javed said that investment in New Pakistan Certificate is fully refundable and no approval would be required to transfer these funds abroad.

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