Government revises yields on certificates purchased with pounds, dollars, euros and rupees
Islamabad:
The federal government has allocated Rs600 million for Naya Pakistan certificates for the next financial year starting July 2024 and has also revised the profit margins on the certificates by issuing a notification.
According to a finance ministry official, the government has permitted the issuance of Naya Pakistan certificates denominated in British pounds, US dollars, euros and rupees, which can be purchased from the State Bank of Pakistan (SBP). By the end of May 2024, $338 million had been invested in Naya Pakistan certificates, while $582 million had been pumped into Shariah-compliant certificates.
Investors who choose to purchase the certificates will be paid the required amount at the end of the certificate’s validity period.
Meanwhile, the government has issued a notification revising the rate of return on Naya Pakistan Securities. Investors will have to invest a minimum of $1,000 in the securities, but can also invest in British pounds or euros. The minimum investment in Pakistani rupees has been set at Rs 10,000.
According to the Ministry of Finance, the government has increased the rate of return on a three-month investment of $1,000 to 7 percent from 5.50 percent, the rate of return on a six-month investment of $1,000 to 7.20 percent from 6 percent, and the rate of return on a one-year investment to 7.5 percent from 6.50 percent.
The return on a three-year dollar investment increased from 6.75% to 8%, and the return on a five-year investment increased from 7% to 8%.
In Pakistani Rupee, the return on investment for 3 months will be 15%, for 6 months will be 15.25% and for 1 year will be 15.50%. The return on investment for 3 years will be 14% and for 5 years will be 13.5%. In British Pound, the return on investment for 3 months will be 5.5%, for 6 months will be 6% and for 1 year will be 7%. The return on investment for 3 and 5 years will be 7.50%.
