National Savings Schemes see over Rs44bn inflow in July

September 18, 2025 (MLN): The net receipts of Savings Mobilized by National Savings Schemes (NSS) stood at Rs44.17 billion in July as compared to receipts of Rs29.58bn in the previous month, the latest data issued by the State Bank of Pakistan (SBP) showed.

Breaking down the figures, the Defence Saving Certificates (DSC) experienced a net outflow of Rs469.3m in July 2025, indicating that more funds were withdrawn from DSCs than invested during this month.

Meanwhile, the Regular Income Certificates (RIC) recorded an inflow of Rs8.18bn, and Rs3.47bn was injected into the Special Savings Certificates (SSC).

Similarly, Rs2.86bn was injected into Prize Bonds.

Moreover, other savings categories within NSS recorded receipts totaling Rs30.13bn. It rose substantially as compared to Rs17.86bn in the previous month.

Overall Trends: From 2014-15 to 2018-19, total savings showed a general increase, with a high of Rs372.44bn in 2019-20. However, the period from 2020-21 to 2023-24 saw a steep decline, with negative total savings, reaching a low of -Rs381.86bn in 2022-23.

This trend reversed in 2024-25, with total savings mobilizing Rs257.12m.

Prize Bonds Volatility: The Prize Bonds category experienced extreme volatility. It was a major contributor to total savings in 2015-16 and 2017-18, mobilizing Rs123.9bn and Rs103.8bn, respectively.

However, this trend reversed dramatically, with Prize Bonds showing the largest negative figures in 2020-21 and 2021-22, at -Rs290.38bn and -Rs69bn.

Defence Savings Certificates (DSC): Defence Savings Certificates showed a notable increase in savings mobilization from 2014-15, peaking in 2019-20 with Rs92.78bn.

This was followed by three consecutive years of negative mobilization from 2020-21 to 2022-23. The most recent data for 2024-25 shows a negative value of -Rs3.83bn.

Regular Income Certificates (RIC): Regular Income Certificates experienced significant fluctuations, including negative values in 2015-16, 2016-17, 2022-23, and 2023-24.

The highest mobilization was in 2018-19, at Rs142.08bn, followed by another positive year in 2019-20 with Rs83.23bn.

Special Savings Certificates (SSC): Special Savings Certificates showed negative mobilization from 2016-17 to 2018-19 and again from 2020-21 to 2023-24.

The most significant negative figure was in 2017-18 at -Rs51.18bn. This reversed in 2024-25, showing a positive mobilization of Rs24.85bn. 

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