Central Directorate of National Savings is all set to launch Overseas Pakistanis Savings Certificates (OPSC) after a formal nod from Dr Miftah Ismail, Adviser to the Prime Minister for Finance, Economic Affairs and Revenue to appoint Manager to Issue (MTI).
Request for Proposal (RFP) for the appointment of MTI shall be available from Saturday. A Pre-Bid Conference for all the banks is being organized at Moven Pick, Hotel, Karachi on Thursday, April 19, 2018.
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The CDNS invites senior management from financial institutions’ custody, operations, compliance, financial institutions/ international banking and investment banking departments to attend the pre-bid conference, said a press release issued on Friday.
The OPSC shall be issued offshore only, in US$ and PKR denominations, to non-resident Pakistanis which will provide them an opportunity to invest in risk-free government securities besides improving foreign exchange reserves of the government of Pakistan.
This will not be as profitable as running a business in Pakistan can be but running a business in Pakistan is very risky, police, local administration and even local magistrates ask you for bribe.
My friend running a restaurant in Islamabad was openly demanded bribe by a magistrate. Policemen do not pay if they have their family gatherings, same is true for CDA officials.