The Presidents / Chief Executives

All Agent Banks

Dear Sirs/Madams,

Standard Operating Procedures (SOPs) for Investment in Conventional

Naya Pakistan Certificates (Certificates)

Please refer to Finance Department Circular No. 3 of 2020 dated September 11, 2020, Circular Letter No. 1 of 2021 dated February 19, 2021 and Circular Letter No. 6 of 2022 dated September 19, 2022 regarding Standard Operating Procedure for Investment in Conventional Naya Pakistan Certificates.

In this regard, all agent banks are hereby informed that Government of Pakistan, Finance Division (External Finance Wing), vide Gazette notifications No. S.R.O. 44(I)/2023 dated January 20, 2023, (Annexure-A) has notified the revision in rate of return in FCY denominated NPCs as under:

Currency	Minimum Investment	3-Month	6-Month	12-Month	3-Year	5-Year
USD			7.20%			8.00%
PKR	10,000 with integral multiples of 1,000	15.00%	15.25%	15.50%	14.00%	13.50%
GBP		5.50%	6.00%	7.00%		7.50%
Euro	1,000 with integral multiples of 500	4.00%	4.50%	5.00%		6.50%

The aforesaid revisions shall be in force from the date of this Circular Letter i.e. 23rd January, 2023.

Please acknowledge receipt.