UK investors pour $56m in Pakistan T-Bills

MG News | April 25, 2024 at 08:06 PM GMT+05:00

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April 25, 2024 (MLN): Pakistan has attracted $56.3 million net flow from UK investors into T-Bills through Special Convertible Rupee Accounts (SCRA) in the current fiscal year, the latest data by the State Bank of Pakistan (SBP) showed.

According to the central bank’s data, in the current fiscal year to date, the debt-ridden nation has seen a total net flow from foreign investors of $152m in T-Bills through these accounts, as the country continues to witness a surge in confidence amid stable exchange rate.

Other countries include Belgium with an investment of $53.5m, Luxembourg with $27.5m, Ireland with $10.4m, and the United States with $4.3m.

To note, these bonds offer attractive returns of 21.66% for three-month T-bills, 21.39% for six months, and 20.90% for 12-month papers, which are paid in Pakistan rupees (PKR).

SCRA allows foreign persons, institutions, and non-resident Pakistanis to invest into various instruments such as equities, government bonds, and TFCs.

Under this scheme, the funds are converted into Pakistani rupees and credited to the depositor's "Special Convertible Rupee" account.

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