The new government of PTI has launched a scheme named as Pakistan Banao Certificate (PBC).
The main purpose of starting this scheme is the Pakistani who are living across the world to invest in the development of Pakistan.
In the past govt, many other leaders created the scenarios by which Pakistan faced a lot of payment issues.
There Is zero export created by the country in the past and instead brought things from other countries.
The most common solution the previous governments worked upon were to apply for loans from the IMF,
Which shattered our currency, and flood local market with borrowed dollars.
The new government came up with a new idea by providing opportunities to others to invest in Pakistan and generate incentives.
Why overseas Pakistanis are an asset?
Well, if we talk about the ranking so Pakistan is the largest diaspora in the world, and there are 500,000 Pakistanis in the USA,
2.2 million in Saudi Arabia, 1.3 million in UAE, and 1.2 million in the UK.
If we talk about their ratio of earning so it crossed more than 20 billion dollars worth every year.
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Just see the amount, and can help the govt for the betterment of Pakistan.
Still, the question arises that not every citizen of Pakistan supports the new government.
PBC as an easy form of Investment
Two of the major projects which the new government is working upon are the Mohmand and Diamer-Bhasha Dam.
If all the patriotic Pakistanis living abroad invests in some of the projects they will achieve a good amount of profit in return.
Features of Pakistan Banao Certificate
- The expected rates of profit rate for the 3 years span of time will be 6.25% and for the 5 years it will be 6.75%, and it is payable semi-annually.
- The minimum investment set by the government through PBC is 5,000 US dollars.
- The profit a person receives will depend on the origins of the bank.
- Most of you thinking may be thinking that they will provide you physical certificates. But in reality, you will receive it on their online portal which the government has created.
- They profit rate is much larger as compared to other national bonds offered by other countries. Compare to US’s 2.49 and 2.875, KSA’s 2.89 and 3.5% profit on their national bonds. PBC is offering 6.25 for 3 years and 6.75 for 5 years profit respectively.
Register Investment request for PBC
The government is in progress for creating the online portal for all the Pakistanis living abroad to submit a request for investing through PBC certificate.
If you wanted to apply then the following details you should know.
- When you create your profile, they will ask you for verification through CNIC/NICOP/POC, You can easily add your payment request and bank account details.
- After completing the first step, they will allocate a specific reference number for you for the remittance of the funds to the PBC bank account at NBP National Bank of Pakistan.
- The overall screening of the applicant will handle by the UNSC, EU, BOE, and OFAC list for clearance, and it is mandatory to submit funds.
- The other necessary services will be provided by the NBP.
- The funds will be remitted to SBP account and maintained by the NBP New-York.
- The State bank of Punjab will ensure the security and will give all the callers to the investors upon confirmation of receipts of funds.
- The investors have the right to check their investment application status by visiting the PBC portal and putting their User ID and Password.
The whole process hardly consumes 5 to 6 minutes.
One of the best initiatives of PM Imran Khan.