Standard Operating Procedures (SOPs) for Investment in Conventional Naya Pakistan Certificates (Certificates)

FD Circular Letter No.03 — March 26, 2026

The Presidents / Chief Executives
All Agent Banks

Dear Sirs/Madams,

Standard Operating Procedures (SOPs) for Investment in Conventional Naya Pakistan Certificates (Certificates)

Please refer to Finance Department Circular No. 3 of 2020 dated September 11, 2020 and subsequent instructions issued regarding Standard Operating Procedure for Investment in Conventional Naya Pakistan Certificates.

2. In this regard, all agent banks are hereby informed that Government of Pakistan, Finance Division (External Finance Wing), vide Gazette Notification No. S.R.O. 536(I)/2026 dated March 26, 2026 (Annexure-A) has notified the revision in rate of return in NPCs as under:

Currency	Minimum Investment	Rate of return (Gross annual return before tax)
3-Month	6-Month	12-Month	3-Year	5-Year
USD	1,000 with integral multiples of 500	6.75%	7.00%	7.25%	7.50%	7.75%
PKR	10,000 with integral multiples of 1,000	10.75%	11.00%	11.00%	11.25%	11.50%
GBP	1,000 with integral multiples of 500	6.75%	7.25%	7.50%	7.75%	8.00%
Euro	1,000 with integral multiples of 500	4.75%	5.25%	5.50%	6.00%	6.25%

3. The aforesaid rates shall be applicable on issuances from 27 March, 2026 onwards.

Please acknowledge receipt.

Yours sincerely,

Qader Bakhsh
Director

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PART III] THE GAZETTE OF PAKISTAN, EXTRA., APRIL 26, 2016 2137
ISLAMABAD, THURSDAY, MARCH 26, 2026
PART II
Statutory Notifications (S.R.O.)
GOVERNMENT OF PAKISTAN
FINANCE DIVISION
(HRM Wing)
NOTIFICATION
Islamabad, the 26th March, 2026
` S. R. O. 536(I)/2026. In pursuance of the powers conferred by rules 8 and 12 of the Naya Pakistan Certificates Rules, 2020 read with S.R.O. 483(I)/2026 dated the 16th March, 2026, and in supersession of its Notification No. S.R.O. 325(I)/2026 dated the 13th day of February, 2026, the Finance Division is pleased to notify that the certifications in the currency as specified in column (2) of the Table below shall be issued with corresponding minimum denomination of the currency as specified in column (3) of that Table and shall have rate of return as specified in columns (4), (5), (6), (7), and (8) respectively of the said Table, namely:
(749)
Price : Rs.5.00
[10606(2026)/Ex.Gaz.]
(Aleem Khan). Job No. 10606 (26) Ex. Gaz. (Finance) PC # 16

750 THE GAZETTE OF PAKISTAN, EXTRA., MARCH 26, 2026 [PART II HAMZA AKBAR SHARIFZADA,
Section Officer(EF-Coommercial).
PRINTED BY THE MANAGER, PRINTING CORPORATION OF PAKISTAN PRESS, ISLAMABAD. PUBLISHED BY THE DEPUTY CONTROLLER, STATIONERY AND FORMS, UNIV ERSITY ROAD, KARACHI.