Savings Mobilized by NSS records net outflow of Rs44.16bn in December

MG News | February 12, 2024 at 08:16 PM GMT+05:00

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February 12, 2024 (MLN): The National Savings Schemes (NSS) recorded a significant outflow of Rs44.16 billion in December as compared to receipts of Rs1.44bn 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Saving Certificates (DSC) experienced a net outflow of Rs4.63bn in December 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs42.11bn, and Rs2.11bn was withdrawn or redeemed from the Special Savings Certificates (SSC).

Meanwhile, Rs191.94 million was injected into Prize Bonds during the review month.

Moreover, other savings categories within NSS recorded receipts totaling Rs4.51bn. However, it declined substantially as compared to Rs12.21bn in the previous month.

Cumulatively, in the first half of fiscal year 2024, Rs76.46bn has been withdrawn from the Savings Mobilized by NSS.

To note, in the fiscal year 2023, the net outflows from Savings Mobilized by NSS stood at Rs381.87bn, reflecting a consistent trend of net payments from these savings schemes during the year.

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