NSS net mobilization rises 12% YoY

October 06, 2026 (MLN): Net savings mobilized through National Savings Schemes (NSS) rose 11.8% year-on-year (YoY) to Rs32.8bn in August 2026, up from Rs29.3bn in the same month last year.

On a month-on-month (MoM) basis, however, mobilization fell 38.4% from Rs53.2bn in July 2026, as inflows cooled across most segments.

The data, released by the Central Directorate of National Savings (CDNS) and compiled by the State Bank of Pakistan, put cumulative net mobilization for 2MFY27 at Rs86.0bn, about 17% higher than the Rs73.5bn mobilized in July-August of FY26.

Breaking Down the August Numbers

Defence Savings Certificates (DSC) recorded a net outflow of Rs4.9bn in August, a reversal from the Rs54mn inflow in July and a much deeper redemption than the Rs133mn outflow in August 2025.

It was the segment's heaviest monthly outflow since December 2025. DSCs stand at a cumulative net outflow of Rs4.9bn for the fiscal year so far.

Regular Income Certificates (RIC) contributed a net Rs7.5bn in August, down from Rs11.8bn in July but up from Rs5.2bn a year earlier. Cumulative RIC inflows for FY27 stand at Rs19.4bn.

Special Savings Certificates (SSC) mobilized a net Rs2.4bn, down from Rs4.1bn in July and virtually unchanged from Rs2.4bn in August 2025. Cumulative net inflows stand at Rs6.5bn.

Prize Bonds mobilized a net Rs2.7bn in August, down from Rs2.9bn in July and flat YoY. The segment's cumulative net inflow for the fiscal year is Rs5.6bn.

The Others category remained the largest contributor at Rs25.2bn, down from Rs34.3bn in July but 30.9% higher than the Rs19.3bn in August 2025. It accounted for about 77% of August's total, with cumulative mobilization of Rs59.5bn in FY27.

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