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National Saving Scheme reduces rates

Karachi: National Saving Scheme (NSS) has decided to reduce the rate of return on its investment schemes on account of a reduction in discount rate by the State Bank from 14% to 13.5% followed by a revision in the rates of Pakistan Investment Bonds (PIBs) and Market Treasury Bills (T-bills).

According to Alfalah Securities, the rate of return on 3-year saving scheme has been reduced from 13.33% to 12.5% p.a., while, the rate of return on 5-year saving schemes has been reduced from 13.44% to 12.6% p.a. Moreover, the rate of return on Defence saving certificate has been fixed at 12.68% from 13.5% previously whereas, the investors aged above 60 years would be given a return of 14.4% from previous 15.36% p.a. under the Behbud scheme.

The Central Directorate of National Savings (CDNS) has also reduced the target of funding raised under National savings from PkR 40 bn achieved in FY11 to PkR 37 bn for FY12, on the back of a ban imposed on investments made by institutional investors.

Market Outlook:
Sell on Strength.

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