Investment in NPCs declines to $763 million

KARACHI: In the wake of growing political uncertainty and worsening economic fundamentals in the country, overseas Pakistanis have aggressively started pulling out investments from the Naya Pakistan saving certificates through their Roshan Digital Accounts (RDAs).
According to the central bank’s latest report on Pakistan’s External Debt and Liabilities (Outstanding), the ‘net’ investment in Naya Pakistan Certificates (NPCs) declined to $763 million on September 30, 2022.
Earlier, the bank had reported ‘gross’ inflows from overseas Pakistanis via RDAs rising to $5.3 billion in October 2022, with a major portion of it being invested in NPCs at $3.3 billion in gross till the aforementioned month. According to the latest data, the net investment in the certificates hit a record high of $1.42 billion in March 2022. By June 30, 2022, however, it dropped to $953 million and plummeted even further to $763 million by September 30, 2022.-PNP