ISLAMABAD – Federal government has decided to try an innovative idea i*norder to plug the balance of payment gap and shore up the country’sdwindling foreign exchange reserves. *
*Federal Finance Minister Asad Umar is going to float a bond for overseasPakistanis.*
The finance minister believes this instrument will help overseas Pakistanismake decent profit while helping Pakistan’s economy. National Savings hasdone its homework and hopes to raise up to $1b from expats living in theGulf countries within the first year.
After tapping into the Gulf region, the bond will be floated to Pakistanisin Europe, America and rest of the world.