ISLAMABAD: The National Savings Directorate has completed preparations for the launch of modern digital prize bonds in Pakistan, ARY News reported on Thursday, citing sources.
According to sources, arrangements for the launch of digital prize bonds have been completed including development of state-of-the-art mobile application for the issuance of these bonds.
The Pakistan government has planned to issue bonds in denominations of Rs500, Rs1000, Rs5000, and Rs10,000.
Digital prize bonds will be available to National Savings account holders, with an expected investment ranging between Rs800 billion to Rs1000 billion.
The rules for digital prize bonds have been forwarded to the Cabinet Committee on Legislative Affairs for approval.
Sources claim that these bonds will be Pakistan’s most secure investment, as they cannot be counterfeited or stolen. Additionally, the concept of anonymous bonds will be eliminated, ensuring compliance with the Financial Action Task Force (FATF) framework.
Read more: Panda bonds to be issued by June: FinMin Aurangzeb
Earlier, Finance Minister Muhammad Aurangzeb said Pakistan plans to launch Panda Bond by June this year with an aim to enhance country’s presence in China’s capital markets.
In an interview with international news channel, he said through the issuance of the Panda Bond, Pakistan intends to raise approximately two hundred million US dollars from Chinese investors.
The Minister emphasized that this step is part of a broader strategy to transition Pakistan’s economy towards export-driven growth, with a focus on achieving sustainability in the country’s balance of payments.
He also highlighted the critical importance of the second phase of the China-Pakistan Economic Corridor.
Muhammad Aurangzeb said that second phase of CPEC would attract more Chinese companies and also open avenues for increased investments.
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