Pakistan Banao Certificates: What is the scheme and who are eligible for it?

ISLAMABAD: Prime Minister Imran Khan on Thursday inaugurated ‘Pakistan Banao Certificates’ scheme to attract investment from overseas Pakistanis to help strengthen the national economy.What is Pakistan Banao scheme?According to official twitter handle of Imran Khan’s PTI, the Pakistan Banao Certificates is the first initiative of its kind for Overseas Pakistanis. They get a unique opportunity to safely invest their savings with higher profits rates than United States, Europe, Gulf countries while helping build Pakistan.Overseas Pakistanis will be able to earn profits from their investment in certificates.It is a revolutionary initiative of Pakistan government to enable the Overseas Pakistanis to buy the Certificates and their investments will not only drive Pakistan towards progress and prosperity but also they’ll be able to get profits from it.Salient Features and EligibilityPakistanis having CNIC/NICOP or holders of POC having bank accounts outside Pakistan are eligible to buy the Pakistan Banao Certificates.The minimum investment is $5000 and any integral multiples US$ 1000 in excess thereof with no maximum limit.Profit distribution is in US dollars (to the investors designated account abroad or in Pak Rupees in Pakistan)Premature encashment in PKR can be done anytime without levy or penalty.Profit rate on three years plan will be 6.25 percent payable bi-annually Profit rate on five years plan will be 6.75 percent payable bi-annually