Prime Minister Imran Khan inaugurated the Naya Pakistan Certificates (NPCs) at a ceremony in Islamabad today.
The aim is to run the Daulat-e-Pakistan management bank to provide attractive investment opportunities to overseas Pakistanis and resident Pakistanis with overseas assets. These certificates are available in both traditional and Shariah-compliant forms.
Addressing the audience, the Prime Minister spoke about how his economic team has successfully solved the economic problems facing Pakistan and put the country back on the path to prosperity. The Prime Minister acknowledged that Pakistanis abroad have played a role in tackling the serious problem of external account deficit by sending remittances to Pakistan on a regular basis.
He said his government was working on innovative initiatives to provide attractive investment and savings opportunities to Pakistanis abroad.
He expressed happiness over the fact that Roshan Digital Accounts, the first of its kind by the SBP, has been warmly welcomed by Pakistanis abroad. Roshan Digital Accounts allows you to open bank accounts remotely without a personal presence and provides innovative banking, payment, and investment facilities to millions of Pakistanis abroad.
The Prime Minister said that the Naya Pakistan Certificates initiative would make Roshan Digital Accounts more valuable. He encouraged Pakistanis abroad and Pakistanis living abroad to invest in Naya Pakistan Certificates through Roshan Digital Accounts.
The Prime Minister appreciated the efforts of Dr. Abdul Hafeez Sheikh, Advisor to the Prime Minister on Finance and Revenue and the Governor SBP on introducing Naya Pakistan Certificates.
Pakistanis residing in the country who have declared their assets abroad can also invest in Naya Pakistan Certificates issued in US Dollars.
The minimum investment limit for certificates issued in US dollars is $5,000 and an additional and 1,000 can be used to invest more than that, while there is no maximum investment limit.
The minimum investment limit in certificates issued in Pakistani Rupees is Rs. 100,000 with an increase of Rs. 10,000 / – and there is no maximum investment limit.
Ten percent withholding tax is levied on profits earned on Naya Pakistan Certificates, which is the final and final settlement of the tax due on Naya Pakistan Certificates.
In addition, Pakistanis abroad are not required to file tax returns on income from Naya Pakistan Certificates.
In his address, Dr. Abdul Hafeez Sheikh, Advisor to the Prime Minister on Finance and Revenue, highlighted the various economic challenges facing the country, especially the Code 19 and the policy initiatives taken by the Government of Pakistan.
He said that the present government under the leadership of Prime Minister Imran Khan was making all possible efforts to solve all the economic problems of Pakistan. Dr. Sheikh congratulated Governor SBP and his team on the successful launch of Roshan Digital Accounts, which has been warmly welcomed by Pakistanis around the world