Please refer to Finance Department Circular No. 3 of 2020 dated September 11, 2020 and Circular Letter No. 1 of 2021 dated February 19, 2021 regarding Standard Operating Procedure (SOPs) for investment in conventional Naya Pakistan Certificates (NPCs).

We are pleased to inform that Government of Pakistan, Finance Division (External Finance Wing), vide Notifications dated September 14, 2022 (Annexure-A) has notified the revision in rate of return in PKR denominated NPCs and also revised downward the minimum denomination of NPCs as under:

Currency	Minimum Investment	Rate of Return (Gross annual return before tax)
		3-Month	6-Month	12-Month	3-Year	5-Year
USD	1,000 with integral multiples of 500	5.5%	6.0%	6.5%	6.75%	7.0%
PKR	10,000 with integral multiples of 1,000	15.0%	15.25%	15.5%	14.0%	13.5%
GBP	1,000 with integral multiples of 500	5.25%	5.5%	5.75%	6.25%	6.50%
Euro	1,000 with integral multiples of 500	4.75%	5.0%	5.25%	5.5%	5.75%

The aforesaid revisions shall be in force from 15th September, 2022.

Please acknowledge receipt.