Pakistan unveils pension plan for overseas Pakistanis

State Bank of Pakistan (SBP), the central bank, on Sunday launched a Roshan Pension Plan for overseas Pakistanis on the eve of 76th Independence Day of the country.

Acting governor SBP Dr Murtaza Syed inaugurated the pension plan for non-resident Pakistanis and said the soft launch of the product will start from August 15.

Dr Murtaza made the announcement at a flag-hoisting ceremony held at the SBP Museum in Karachi to mark the 76th Independence Day of the country. He paid rich tribute to overseas Pakistanis for their relentless contributions towards the country.

“Overseas Pakistanis can now avail the benefits of financial planning for their retirement through RPP. The soft launch of the product will start from August 15, 2022 with collaboration of RDA banks and Asset Management Companies,” Dr Murtaza said in a statement to Khaleej Times on Sunday.

Rs75 commemorative banknote

The acting SBP governor also unveiled a Rs75 Commemorative banknote to mark the 75th anniversary of Pakistan’s Independence. He noted that while issuance of coins and postage stamps is a regular feature to mark days of national importance, it is rare for the central bank to issue a commemorative banknote.

This is the second banknote to be issued by the SBP, following the first one issued in 1997 to mark the Golden Jubilee of Pakistan’s Independence. The banknote, which features Pakistan’s founding father and mother on the front side along with Sir Syed Ahmed Khan and Allama Muhammad Iqbal, presents a theme of environmental sustainability on the reverse.

The banknote is predominantly green, complemented by white shades and some yellowish tone to enrich its appeal. The green colour represents growth and development and derives inspiration from the Islamic identity of the country, whereas the white colour emphasizes the religious diversity of population.

— muzaffarrizvi@khaleejtimes.com

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