Savings Mobilized by NSS records net payment of Rs12.33bn in September

MG News | November 10, 2023 at 11:08 AM GMT+05:00

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November 10, 2023 (MLN): The net payments of Savings Mobilized by National Savings Schemes (NSS) stood at Rs12.33 billion in September as compared to payments of Rs7.02bn 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Saving Certificates (DSC) experienced a net outflow of Rs2.9bn in September 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs16.35bn, and Rs1.47bn was withdrawn or redeemed from the Special Savings Certificates (SSC).

Meanwhile, Rs33.4m was injected into Prize Bonds.

On the other hand, other savings categories within NSS recorded receipts totaling Rs8.35bn. However, it declined substantially as compared to Rs18.06bn in the previous month.

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

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