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Government to issue profitable savings bills for overseas Pakistanis

They’re likely to be in the market by April 15

Reporting | - Posted: Apr 9, 2020 | Last Updated: 7 months ago
SAMAA |
Posted: Apr 9, 2020 | Last Updated: 7 months ago
Government to issue profitable savings bills for overseas Pakistanis

Photo: FILE

The Finance Division has decided to issue savings bills for non-resident Pakistanis in all currencies. The bills of 3, 6, and 12 months are likely to be in the market by April 15.

Non-resident Pakistanis with Overseas National Identity Cards, Origin cards or membership of the Overseas foundation can avail the scheme. Forms will be available on agent bank websites.

The profit rates for both conventional bills and Islamic bills will be set at the highest rate. Funds invested in the bills will be remitted to Pakistan, however, investors will be allowed to sell them before maturity.

Government officials working outside Pakistan who come under the non-resident category can also apply. It is off-limits to resident Pakistanis.

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