Prime Minister Imran Khan has asked Pakistanis overseas to invest in their homeland and generate better profits.
In a speech given at the launch ceremony of Naya Pakistan Certification (NPC) on Thursday, the prime minister asked the State Bank of Pakistan (SBP) to promote the new product to attract foreign Pakistanis to invest in the country.
“When you are away from your country, you really care about it. This is true for Pakistani expatriates, who are the largest investors in the country. ”
He said that Pakistanis abroad have proven their strength in all areas and that they have a wealth equal to Pakistan’s GDP. “We can convince Pakistanis overseas to invest their dollars in Pakistan by creating a favorable environment for them.”
Speaking about the government’s efforts to reform the economy, Imran Khan said that all economic indicators are showing positive dynamics. He said that for the first time in 17 years, the current account deficit became surplus. Exports increased by 24 percent; While remittances have been growing over the past five months.
The prime minister noted that “the record sales of cement indicate a boom in the construction industry.” “The economy is now moving in the right direction and Pakistan has emerged from a difficult period.”
Regarding the inflation hitting the country, the prime minister said the early rains had wreaked havoc on wheat crops, while food security concerns also emerged from the Covid-19 outbreak. He added that the “mafia” in the sugar industry played a role in creating the crisis and stressed that from now on the government will work to tighten the screws.
Naya Pakistan Certificates (NPCs) are investment products being introduced to overseas Pakistanis, facilitating them in opening of a Foreign Currency Value Account (FCVA). The certificates are for those overseas Paksitanis who have declared their wealth and Assets abroad with Federal Board of Revenue (FBR).
Naya Paksitan Certificates are offering better Dollar Based yields of up to 6.5%.
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