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Miftah Ismail chairs meeting on overseas Pakistanis savings certificate

Adviser to Prime Minister on Finance, Dr. Miftah Ismail, chaired a meeting here Saturday to review the proposal regarding launching of Overseas Pakistanis Savings Certificate (“OPSC”) by National Savings (NS) to non-resident Pakistanis.

Zafar Masud, Director General NS briefed the adviser about the progress made on the OPSCs. He informed that necessary regulatory and legal due diligence have already been completed by the NS Consultant Consortium (EY Ford Rhodes, Haidermota BNR & Co and Al Tamimi & Co).

He also briefed about the salient feature of the OPSCs particularly eligibility, cost and investment limits for the proposed certificate. Tentative timeline for launching the proposed product was also discussed in detail keeping in view the ideal economic scenario complimenting the product launch.

Adviser Finance appreciated the progress made by the National Savings in this regard and directed to make all possible efforts to launch OPSCs by May-2018. Senior officials of the Ministry of Finance and National Savings along with consultant (EY Rords Rhodes) attended the meeting.

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