Govt raises Naya Pakistan Certificate's markup rates for foreign investments
On one yearly investment of $1,000 in Naya Pakistan Certificate, there will be a rate of return of 7.50%
- Rate of return is now 7% for 3-month investments of $1,000.
- NPCs are issued by Government of Pakistan.
- Certificates are available in both conventional, Shariah-compliant versions.
ISLAMABAD: In a bid to lure investments in foreign currencies from abroad, the government jacked up the markup rates forNaya Pakistan Certificates (NPC), The News reported Saturday.
TheNaya Pakistan Certificates — which offerrisk-adjusted returns over different maturities — areUSD, PKR, Euro and British Pound-denominated sovereign instruments issued by the Government of Pakistan.
They are available in both conventional and Shariah-compliant versions and are administered by the State Bank of Pakistan (SBP).
The Ministry of Finance brought an amendment to the notification and increased the rates for NPCs.
According to a Statutory Regulatory Order (SRO) issued by the Ministry of Finance External Wing, on $1,000, there will be a rate of return of 7% for three-monthinvestments against the previous rate of 5.50%.
For six months, there will be a rate of return of 7.20% against the previous rate of 6%.
On one yearly investment of $1,000 in Naya Pakistan Certificate, there will be a rate of return of 7.50% against the previous rate of 6.50% while on a three-year investment of $1,000 in NPC, the new rate of return will be 8% against the previous rate of 6.75%.
On five year investment of $1,000 in NPC, the new rate will be 8% against the previous rate of 7%.
On £1,000 investment in NPC, there will be a rate of return of 5.50% for three months, 6% for six months, 7% for one year, 7.50% for three years, and 7.50% for five years period.
On €1,000 investment in NPC, the offered markup rate will be 4% for three months, 4.50% for six months, 5% for one year, 6.50% for three years, and 6.50% for five years period.
On Rs10,000, there will be a rate of return of 15% for three months investments, 15.25% for six months, 15.50% for one year, 14% for three years, and 13.50% for five years' investments.