ISLAMABAD, : Prime Minister Imran Khan on Thursday said with the country\u2019s major economic indicators showing positive trends, there was a need to take special initiatives and offer incentives to attract investment from expatriates, who according to some estimates owned dollars equal to Pakistan\u2019s Gross Domestic Product (GDP), for a win-win situation.<\/p>\n\n\n\n
\u201cWe have to strive and look ways to attract the overseas Pakistanis, who are progressing well in every sector abroad and, I know and according to some estimates, own the amount of dollars equivalent to our GDP, \u201dhe said while speaking at the launch of Naya Pakistan Certificates (NPCs) by the State Bank of Pakistan (SBP).<\/p>\n\n\n\n
The NPCs issued by the SBP for overseas and resident Pakistanis with declared assets abroad offer \u201cvery attractive expected rates of 5.5 to 7 percent\u201d on dollar investment and \u201c9.5 to 11 percent\u201d on rupee.<\/p>\n\n\n\n
The prime minister said with the situation of Islamophobia campaigns and very interest rates in the West,<\/p>\n\n\n\n
the NPCs, which offered attractive rate of return, provided an opportunity to the overseas Pakistanis,<\/p>\n\n\n\n
to invest their hard-earned money in their homeland for their own as well as the benefit of country.<\/p>\n\n\n\n
Highlighting the country\u2019s achievements on economic front, he said except the food inflation,<\/p>\n\n\n\n
which was also on the rise in India due to pressure on supply chain, the country\u2019s major economic indicators were moving in positive direction.<\/p>\n\n\n\n
The prime minister mentioned that the government, which inherited US $ 20 billion of the current account deficit, had brought it to surplus \u2013 first time in 17 years, checked the fiscal deficit and brought in fiscal discipline during the last years.<\/p>\n\n\n\n
He explained that increase in the current account deficit and higher imports caused pressure on rupee and in turn brought price-hike in imported commodities like gas, edible oil, ghee and pulses.<\/p>\n\n\n\n
The prime minister said besides the major achievement of bringing the current account in surplus, the government had succeeded in realizing 24% increase in exports and enhanced receipt of the workers\u2019 remittances.<\/p>\n\n\n\n
He expressed his pleasure that with the achievement of stability in primary balance \u2013 difference in revenue and expenditure, there was no raise in the country\u2019s debt during the last four months.<\/p>\n\n\n\n
The prime minister mentioned that a well-performing stock market \u2013 best in Asia, booming construction industry,<\/p>\n\n\n\n
record sales of cement and other construction materials, boost in the textile industry,<\/p>\n\n\n\n
and higher sales of motorcycles and cars were reflective of the fact that the economy was on the right path.<\/p>\n\n\n\n
He appreciated the State Bank of Pakistan, the Finance Ministry and his economic team for their contribution in the economic boost.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD, : Prime Minister Imran Khan on Thursday said with the country\u2019s major economic indicators showing positive trends, there was a need to take special initiatives and offer incentives to attract investment from expatriates, who according to some estimates owned dollars equal to Pakistan\u2019s Gross […]<\/p>\n
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