Pakistan Unveils Digital Prize Bonds Initiative

Pakistan’s National Savings Official‘s Directorate has concluded preparations for launching modern hashtag#digital prize bonds, complete with a user-friendly mobile app for easy issuance. Addressing concerns over lost or fake bonds, these are secure, traceable, and compliant with the Financial Action Task Force (FATF) Framework, meaning anonymous ownership will no longer be an option.

The bonds will be available in Rs500, Rs1,000, Rs5,000, and Rs10,000 denominations. The government, however, expects investments to hit an incredible Rs800 billion to Rs1,000 billion. The approval process is now in the Cabinet Committee on Legislative Affairs’ hands.

Meanwhile, Finance Minister Muhammad Aurangzeb has his sights set on China as Pakistan prepares to launch the Panda Bond by June, aiming to raise $200 million from Chinese investors as part of a broader strategy to push Pakistan towards export-led growth and a stable balance of payments. Additionally, he’s also expecting the second phase of CPEC to bring in more Chinese companies and investment.