Savings Mobilized by NSS records net payment of Rs7.02m in August

MG News | October 05, 2023 at 03:54 PM GMT+05:00

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October 05, 2023 (MLN): The net payments of Savings Mobilized by National Savings Schemes (NSS) stood at Rs7.02 million in August as compared to receipts of Rs13.71 million 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Defence Saving Certificates (DSC) experienced a net outflow of Rs1.03m in July 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs22.75m, and Rs1.7m was withdrawn or redeemed from the Special Savings Certificates (SSC).

In addition, Rs0.41m was withdrawn from Prize Bonds.

On the other hand, other savings categories within NSS recorded receipts totaling Rs18.06m. However, it declined substantially as compared to Rs40.9m in the previous month.

To note, in the fiscal year 2023, the net receipts of Savings Mobilized by NSS stood at negative Rs382.77m, reflecting a consistent trend of net outflows from these savings schemes during the year.

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