Pakistan News

    National Saving Prize Bonds In Pakistan

  • Prize bonds attracting tax-avoiding money

    KARACHI: The issue of withholding tax on banking transactions has taken a new turn as protesting traders have started investing in bonds...

    Higher demand for prize bonds has pushed up their prices and certain denominations are now in short supply...

  • Rs40,000 bearer Prize Bonds to be registered until March 31 next year

    ISLAMABAD: The government on Thursday allowed the investors of Rs40,000 Prize Bonds (bearer) to register their bonds up to March 31, 2020...

    In an announcement, the ministry of finance said the Economic Coordination Committee (ECC) of the cabinet had decided that holders of bearer Rs40,000 Prize Bonds could avail the option to convert their bearer bonds into Premium Prize Bonds registered through 16 field offices of the State Bank of...

  • Rs7,500 denomination prize bonds withdrawn

    ISLAMABAD: The government has decided to withdraw prize bonds of Rs7,500 denomination with immediate effect and allowed its conversion into registered bonds of higher denomination...

    In a notification issued by the finance ministry, the government had ordered it “to withdraw Rs7,500 denomination National Prize Bonds from circulation with immediate effect under Sub-Rule 1 of Rule 4 of National Prize Bonds Rules 1999”...

  • Pakistani rewarded by crown prince for saving Saudi national's life

    RIYADH: Pakistani national Shaukat Amin was honoured by Crown Prince Muhammad bin Nayef bin Abdulaziz for saving a Saudi citizen from drowning in a flood in Assir, the Saudi Press Agency reported on Saturday...

    The crown prince offered Amin a financial reward for saving Fahd Al Qahtani who had been swept away by floods in Tathleeth Valley in the Assir region, the Saudi Civil Defence Directorate tweeted...

  • Pakistan issues $1bn five-year sukuk bonds

    ISLAMABAD: Pakistan has issued $1 billion of five-year dollar-denominated sukuk bonds in order to offset pressure on its balance of payments and return foreign loans maturing this year...

    Finance Minister Ishaq Dar said during a press conference on Thursday that Pakistan received nearly $2...

  • Pakistan launches $500 million in Islamic bonds

    KARACHI: Pakistan is set to launch $500 million in Islamic bonds to raise money for its foreign exchange reserves, a senior official said Wednesday, as a three-year IMF bailout package nears a close...

    The government has started looking at key markets for the “Sukuk” bonds — a Sharia compliant instrument that offers profits instead of interest to its subscribers, a top official said...

  • UAE Crown Prince to visit Pakistan tomorrow 'to further strengthen bonds of friendship'

    Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan will arrive in Islamabad tomorrow (Thursday) for a day-long visit "to further strengthen the bonds of friendship between the two brotherly countries", according to a statement by the UAE Ambassador in Islamabad...

    The UAE crown prince had last visited Pakistan on January 6 in 2019, just weeks after his country offered $3 billion to support Pakistan's battered economy...

  • Foreign investors return to Pakistan Investment Bonds with $240m

    KARACHI: Pakistan Investment Bonds (PIBs) attracted highest foreign investment of over $100 million in March alone, reflecting rising attraction for foreign investors keen to profit from returns up to 10 per cent...

    The latest data issued by the State Bank of Pakistan on Wednesday showed that the foreign investors invested $240...

  • Rs4 trillion bonds may deal a blow to economy

    KARACHI: The high-yielding long-term Pakistan Investment Bonds (PIBs) could deal a blow to the economy as volume of bonds crossed Rs4 trillion on March 31, the State Bank reported on Friday...

    Since the installation of the Nawaz government in 2013, the long-term bonds were made a leading instrument to raise funds, but it could prove lethal to economy as size of debt servicing during the last two years increased rapidly...

  • 50 sea bathers released on personal bonds

    KARACHI: Over 50 picnickers were released on personal bonds by judicial magistrates on Tuesday in cases pertaining to violating the ban on swimming in the sea imposed by the city administration...

    The magistrates released them after taking personal bonds and directed them to appear before the courts concerned after the public holidays...

  • Investors rush for UK and German bonds

    But with the pound hitting its lowest point against the dollar in more than 30 years and stocks in British banks, airlines and property firms plunging, investors have sought out the perceived security of government bonds across Europe...

    Yields on French, Italian and Spanish 10-year-bonds also fell, although none was in such high demand as German debt...

  • 57 fourth schedulers yet to submit surety bonds

    RAWALPINDI: The Counter-Terrorism Department (CTD) has asked the Rawalpindi police to cooperate with its staff in obtaining surety bonds from 57 terror suspects placed on the fourth schedule of the Anti-Terrorism Act (ATA) 1997...

    Among those who have not submitted the surety bonds are three prominent religious scholars, one of whom has been absent from his residence...

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