Savings Mobilized by NSS records net outflow of Rs3.27bn in February

MG News | April 04, 2024 at 10:59 AM GMT+05:00

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April 04, 2024 (MLN): The net payments of Savings Mobilized by National Savings Schemes (NSS) stood at Rs3.27 billion in February as compared to payments of Rs23.49bn 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Saving Certificates (DSC) experienced a net outflow of Rs1.71bn in February 2024, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs6.99bn, and Rs1.12bn was withdrawn or redeemed from the Special Savings Certificates (SSC).

Meanwhile, Rs427.4m was injected into Prize Bonds.

Moreover, other savings categories within NSS recorded receipts totaling Rs6.12bn. It fell significantly as compared to Rs27.21bn in the previous month.

Cumulatively, in the first eight months of fiscal year 2024 (8MFY24), Rs103.1*bn has been withdrawn from the Savings Mobilized by NSS, reflecting a consistent trend of net payments from these savings schemes during the year.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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