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Circulars

Standard Operating Procedures (SOPs) for Investment in Conventional Naya Pakistan Certificates (Certificates)

March 26, 2026
10176

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 and subsequent instructions issued regarding Standard Operating Procedure for Investment in Conventional Naya Pakistan Certificates.

  1. In this regard, all agent banks are hereby informed that Government of Pakistan, Finance Division (External Finance Wing), vide Gazette Notification No. S.R.O. 536(I)/2026 dated March 26, 2026 (Annexure-A) has notified the revision in rate of return in 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 6.75% 7.00% 7.25% 7.50% 7.75%
PKR 10,000 with integral multiples of 1,000 10.75% 11.00% 11.00% 11.25% 11.50%
GBP 1,000 with integral multiples of 500 6.75% 7.25% 7.50% 7.75% 8.00%
Euro 1,000 with integral multiples of 500 4.75% 5.25% 5.50% 6.00% 6.25%
  1. The aforesaid rates shall be applicable on issuances from 27 March, 2026 onwards.

Please acknowledge receipt.

Enclosed:

Yours sincerely,

Qader Bakhsh
Director