January 12, 2023 (MLN): The government on Thursday raised the profit rates on regular certificates by 24 basis points (bps) to 12.60%, as notified by the Central Directorate of National Savings (CDNS).

Meanwhile, the rate on short-term certificates for 3 months moved up by 132bps to 16.12%.

The rate of profit on 6-month and one-year investments also inched up by 114bps and 106bps to 16% and 15.96%, respectively. 

The increase in profit rates is mainly attributable to the increase in the policy rate to arrest inflation. 

Consumer inflation accelerated to 24.5% YoY, compared to an increase of 23.8% YoY in the previous month and 12.3% in December 2021.

The rising inflation has dented the purchasing power of the salaried class.

Copyright Mettis Link News

Posted on: 2023-01-12T13:51:46+05:00