Savings Mobilized by NSS records net outflow of Rs23.49bn in January

MG News | March 05, 2024 at 03:35 PM GMT+05:00

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March 05, 2024 (MLN): The net payments of Savings Mobilized by National Savings Schemes (NSS) stood at Rs23.49 billion in January as compared to payments of Rs44.16bn in the previous month, the latest data issued by the State Bank of Pakistan (SBP) showed today.

Breaking down the figures, the Defence Saving Certificates (DSC) experienced a net outflow of Rs1.59bn in January 2024, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs48.05bn, and Rs1.11bn was withdrawn or redeemed from the Special Savings Certificates (SSC).

Meanwhile, Rs53.94m was injected into Prize Bonds.

Moreover, other savings categories within NSS recorded receipts totaling Rs27.21bn. It rose substantially as compared to Rs4.51bn in the previous month.

Cumulatively, in the first seven months of fiscal year 2024, Rs99.93bn has been withdrawn from the Savings Mobilized by NSS, reflecting a consistent trend of net payments from these savings schemes during the year.

In the fiscal year 2023, the net outflows from Savings Mobilized by NSS stood at Rs381.87bn.

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