ISLAMABAD: Prime Minister Imran Khan has urged overseas Pakistanis to invest in their home country and earn better returns.
Addressing the launching ceremony of Naya Pakistan Certificates (NPC) on Thursday, the prime minister asked the State Bank of Pakistan (SBP) to devise a new product to attract overseas Pakistanis to invest in the country.
“It is when you’re away from your country, you care about it the most. This is true for Pakistani expatriates who are the biggest investors for the country,” the premier stated.
He said that overseas Pakistanis have proven their mettle in every field and they own wealth equal to the total GDP of Pakistan. “We can convince overseas Pakistanis to invest their dollars in Pakistan by providing them with an enabling environment.”
Talking about the government’s efforts to revamp the economy, Imran Khan said that all economic indicators are showing a positive trend. He said the current account deficit has become surplus for the first time in the last 17 years; exports have witnessed an increase of 24pc; while remittances have been on the rise for the last five months.
“Record cement sales indicate that the construction industry is flourishing,” the PM noted. “The economy is now heading in the right direction and Pakistan has come out of the difficult period.”
On inflation plaguing the country, the PM said untimely rainfalls caused great damage to wheat crops, while food security issues also surfaced due to the Covid-19 outbreak. He added that the “mafia” in sugar industry played an instrumental role to cause the crisis and asserted the government will henceforth ensure to tighten the noose around them.
Imran Khan linked rupee devaluation to hike in commodity prices, saying “when the dollar appreciates against the local rupee, it renders commodities and groceries expensive; however, the rupee has been performing well now and it is towards stability”.
It may be noted that Naya Pakistan Certificates (NPCs), which are being introduced to facilitate overseas Pakistanis in the opening of a Foreign Currency Value Account (FCVA), are for those who have declared assets abroad with the Federal Board of Revenue (FBR).
Earlier, Senator Faisal Javed had said that NPC holders will get up to 7pc return in US dollars and 11pc in Pakistani currency, whereas Islamic Certificates (Shariah-compliant) are also being offered by the central bank.
“The certificates will be made available for a period of three months to five years while early encashment is allowed,” said Faisal Javed. “No tax filing is required for Non-Resident Pakistanis (NRP) and only 10pc withholding tax will be charged on profits.”
I want to invest in my country Pakistan. please help the people provide easy environment ,thanks Govt of Pakistan and special thanks to pm Imran khan
I am sending £12000 a year to bulgaria for my sister medical course tuition fees and accommodation she wants to migrate to pakistan to complete her education so presumably I can send that much amount to Pakistan but the govt of Pakistan and other institutes in pakistan has made it so difficult.
So now I can only say my best wishes are with PM and poor pakistani people regards
But meantime my £12000 will go to BULGATIA for next 5 years.
We all want to invest and help our Allah’s given gifted county BUT our banking system is not ready to handle overseas needs and wants the banking system RDA HBL can’t even send SMS or OTP SMS how they can handle the rest. I wish we make RDA work so we can send money and invest in our country.
I m stuck in court for two years to get my fair share of inheritance
Lawyers deceptive
It would take less than a month in west n other muslim countries
Why should me n my friends etc invest here
Please explain
PM Sahib. Overseas Pakistanis or un kay Pakistan mein assetts ko law ki protection provide krein.
People want to invest but afraid of influential unlawfully robbing them off of the hard earned money
How can we invest in Pakistan when corruption is made systematically legal. Every Department and every inch of Pakistan is diluted with this filthy disease. We need to update laws in Pakistan and required honest peoples to run the Goverment and institutions. Imran Khan alone has failed so far and nothing being done except delivering speeches. We need justice system based on equality and no difference between poor and rich otherwise this will countine for how long may Allah know alone. Plz Sort out the this major Problem in Pakistan and Inshallah we will have a brighter future.
I would like to say to the Government of pakistan especially the Prime Minister of Pakistan that make strict laws to safe the money of the overseas pakistani.lot of fake housing societies are working without any proper NOCS and approvel and they have looted billions from people of Pakistan.These housing societies are working all over the pakistan and have opened their offices .There is no proper check up on these fake socities. Institutes are especially land revenue is very corrupt and even legal work is impossible with giving the money.FIRST bring reforms and then give invitations to the expatriates to invest in the country.
Salaams
Before profit safety and security is paramount.
Also as a Muslim country please shy away from non halal investments.
Potential is vast if only you are willing to change and offer genuine services of highest quality and standards.
Best wishes.
Is this Hala Investment?
Pm only announced for investment. Till now they haven’t change or upgrade any new consignment for new strict laws.