NPCs to open up attractive investment opportunities: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Thursday termed the launch of Naya Pakistan Certificates (NPCs) as a big top up to the Roshan Digital Account, aimed at providing an attractive investment opportunity to the overseas and resident Pakistanis.

Speaking at the inaugural ceremony of NPCs, the advisor said he was optimistic that overseas Pakistanis would fully utilize this opportunity to invest in NPCs. Prime Minister Imran Khan inaugurated NPCs in a ceremony held here.

Meanwhile, the advisor highlighted various economic challenges faced by the country, particularly as a result of Covid-19 pandemic, and the relief and economic stimulus initiatives taken by the government.

He emphasized the incumbent government under the leadership of Prime Minister Imran Khan was making effective efforts to resolve all the inherited economic woes of Pakistan.

In his address, Governor State Bank of Pakistan, Dr. Reza Baqir noted that the initiative of NPCs by the Ministry of Finance and the Roshan Digital Accounts initiative of SBP would go a long way in meeting the demand of overseas Pakistanis for facilitating their smooth access to the financial sector in Pakistan and provide investment opportunities to them as well resident Pakistanis.

In addition, these two initiatives will help the country not only in tapping the valuable financial resources but will also become a more consistent, reliable and long-term source of foreign exchange flows in the country.

Sharing the data on Roshan Digital Accounts so far, the governor said that the outcome of the initiative has so far been quite satisfactory and encouraging.

He said that over 36 thousand RDAs have been opened so far in less than two months fetching over USD65 million of amount remitted.

He noted that the number of accounts and amounts remitted and investment is growing every day.

Ministers, parliamentarians, presidents and CEOs of banks, and senior officials from SBP also attended the ceremony.

It is pertinent to mention here that the Naya Pakistan Certificates is an initiative of Ministry of Finance and administered by the State Bank of Pakistan to offer attractive investment opportunities to overseas Pakistanis and resident Pakistanis with assets held abroad.

These certificates are available in conventional and Shariah compliant versions.