Islamabad: The federal government will hold a series of roadshow events in various countries in a bid to convince overseas Pakistanis to invest in the Pakistan Banao Certificate (PBC) initiative – a news source reported.
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PBC is a dollar-denominated diaspora bond. Through PBC, the government plans to tap into the international savings of overseas Pakistanis as it seeks to increase its foreign reserves.
Special Assistant to PM on Overseas Pakistanis Syed Zulfikar Bukhari said that the campaign will be launched from the United Kingdom. It will later be expanded to other European and Gulf countries.
Bukhari said that he would leave for England to formally launch the campaign, which will then be moved to the United Arab Emirates (UAE), Qatar, and other countries.
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Pakistanis residing in these countries will be apprised of the PBC initiative and its benefits. He further informed that no withholding tax and Zakat will be deducted on this diaspora bond.