$30 million Collected from Expats under ‘Pakistan Banao Certificate’ – Research Snipers

$30 million Collected from Expats under ‘Pakistan Banao Certificate’

pakistan banao

The government of Pakistan has successfully collected around $30 million from expats under the ‘Pakistan Banao Certificate’. In order to get more investment from the Pakistani diaspora living abroad, the Pakistan Banao Certificate scheme was launched by the government. Overseas could buy the certificate and raise investment in Pakistan.

Hameed said, “The scheme is continuing,” and only the ad campaign ended on 30th June 2019.

Talking about the fund for Diamer-Bhasha and Mohmand dams, top State Bank officials said that the total amount that has been collected for the dams is Rs10.9 billion.

Also read: Govt Holds Roadshows for Attracting Investment from Expats

On the directives of the Supreme Court of Pakistan, “Now the additional funds collected for dam funds were invested into treasury bills.”

As for the Pakistan Banao Certificate, the profit rate fixed by the government was 6.25 percent and 6.75 percent on three and five years respectively.

A top government official said, “So far the government had attracted around $30 million.”

This scheme was not launched in some of the top countries like the US, the UK as the required permission from the regulatory regimes were not granted.