ISLAMABAD – The federal government has received $1 million since the launchof ‘Pakistan Banao Certificates’ (PBC).
The certificates were launched 10 days ago and the turnout shows the levelof interest of overseas Pakistanis in the scheme.
The PBCs were introduced to replenish the diminishing foreign exchangereserves. The turnover from the sale of the certificates shows that theyare serving their purpose.
According to the available resources, a remittance of $1 million has beendispatched by at least 50 investors to the State Bank of Pakistan (SBP).——————————
The National Bank of Pakistan’s (NBP) New York branch maintains the accountfor PBCs. Nevertheless, the sources agree that the response is better thanexpected. Around 5000 investors have already registered with a web-basedportal to purchase the bonds.
Moreover, most of the demand is coming from expats living in the US andEurope. A good response is expected from the Gulf countries as well,especially, the United Arab Emirates (UAE). For now, the government isassessing its demand among the overseas Pakistanis.