The government increased the markup rates for Naya Pakistan Certificates (NPC) to entice foreign investments in foreign currencies.
The Naya Pakistan Certificates are sovereign instruments issued by the Government of Pakistan and are denominated in USD, PKR, EUR, and GBP. They offer risk-adjusted returns over a range of maturities.
They are controlled by the State Bank of Pakistan (SBP) and come in conventional and Sharia-compliant varieties.
The Ministry of Finance amended the notification, which raised the NPCs’ rates.
According to a Statutory Regulatory Order (SRO) published by the Ministry of Finance External Wing, the rate of return for investments held for three months will now be seven percent on a $1,000 investment, up from the previous rate of five point fifty percent.
In contrast to the prior rate of 6 percent, there will be a rate of return of 7 points and 20 percent for the next six months.
The new rate of return on a $1,000 investment in a Naya Pakistan Certificate for a year will be 7/50 percent, up from the previous rate of 6/50 percent. For a $1,000 investment in an NPC for three years, the new rate of return will be 8/100 percent, up from the previous rate of 6/75 percent.
The new rate will be 8% instead of the previous rate of 7% on a $1,000 investment made into NPC over five years.
For every £1000 invested in NPC, a rate of return of 5% will be earned after three months, 6% after six months, 7% after a year, 7% at three years, and 7% at five years.
The offered markup rate on a $1,000 investment in NPC will be 4% for three months, 4% and 50% for six months, 5% for a year, 6% and 50% for three years, and 6% and 50% for five years.
For investments made for three months on a sum of Rs 10,000, the rate of return will be 15%, and for six months, it will be 15%.
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