KARACHI: The government has notified the rules for the National Saving Bonds, which could also be traded in the stock exchange and could be pledged as securities in Pakistan.
National Saving Bonds Rules, 2009 would come into force at once and would apply to the bonds by the federal government.
These bonds will be listed as well as traded on Country’s stock exchanges and would be transferable through the Central Depository Company.
According to the Rules, the maturity period of the bonds will be three, five and ten years for which the return rate would be 12.5 percent, 12.55 percent and 12.6 percent per annum respectively.
Federal government has notified that these bonds will be federal government’s registered security and the minimum investment will be Rs 20,000 with no maximum limit.
These bonds will be issued in the multiple of Rs 10,000 and the profit on these bonds will be paid bi-annually and there would be no redemption before maturity.
The bonds will be sold by the central directorate of National Savings in issues or as per the directives of the finance division while the maturity wise coupon rate will be announced by the finance division before fortnight of each issue.
These bonds may be issued to individuals: mutual funds, provident, pension, gratuity funds or trusts excluding body corporate and banks, irrespective of their residential status. Daily Times