Government to launch “New short-term certificates” and “Student bonds” – Alfalah Securities Limited

Karachi, June 07, 2012 (PPI-OT): The government has announced to launch new short-term certificates and student bonds for raising PkR 35 bn to finance its fiscal deficit in FY13.

According to Alfalah Securities Limited, the new short-term saving certificates would be launched from July 1, 2012, where the minimum investment limit would be fixed at PkR 10,000 for 3, 6 and 12 month maturities and would carry a return of 11.40% per annum with no hidden charges.

Furthermore, the government would also launch “Student welfare bonds” from August 14, 2012 with a minimum investment of PkR 100, carrying 1st prize of PkR 700,000, 2nd prize of PkR 200,000 and 3rd prize of PkR 1000 for 1,199 students. Student Welfare Bonds would help the government in generating PkR 5 bn. The government has targeted to raise PkR 220 to 224 bn in FY13 through National Saving Scheme and the two saving schemes would help the government in achieving the desired target. Alfalah Securities Limited believes the launch of two new short term saving schemes would provide an opportunity to the people to save and earn a better return on investment while giving an opportunity to the government to raise funds for the financing of fiscal deficit.

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