Prime Minister Imran Khan launched on Thursday the Pakistan Banao Certificate (PBC), a diaspora bond for overseas Pakistanis.
According to a working document by the State Bank of Pakistan, the government is offering 6.25% profit for a three-year PBC and 6.75% for its five-year version.
“This is a scheme that will not only uplift Pakistan but also generate profits for overseas Pakistanis,” PM Khan said, addressing a ceremony in Islamabad. “I wish this scheme had been launched earlier.”
He praised overseas Pakistanis for their love for the country and said they never abandoned their country when it needed them.
#PakistanBanaoCertificates is a revolutionary initiative of Pakistan Government to enable the Overseas Pakistanis to buy the Certificates and their investments will not only drive Pakistan towards progress and prosperity but also they’ll be able to get profits from it! pic.twitter.com/I3DEVTHgPo
— PTI (@PTIofficial) January 31, 2019
The prime minister said his government is trying its best to overcome the circular debt and deficit.
“Every government goes to the IMF after assuming power,” he said. “But we decided to take help from friendly nations to stabilise the economy.”
PM Khan said that Pakistan has so much potential. “There is historical tourism, religious terrorism and we have the world’s best mountains.”
The prime minister said that the agriculture sector will see notable progress if modern technology is used. “All Pakistan needs is management techniques.”