The government is considering introducing short-term National Savings Schemes (NSS) products for a year and below.
The government with the consent of finance experts in the Ministry of Finance was about to launch such a scheme last year for the benefit of small investors, but after finding some flaws in the said scheme, the government decided not to float the proposed NSS. Continue reading »
Federal Government Thursday said rates of return on National Savings Schemes (NSS) would remain unchanged. The existing rates of return on NSS are 13.55 percent for Continue reading »
By Jawwad Rizvi
LAHORE: The National Savings Organisation (NSO) will introduce Automated Teller Machines (ATMs) and a modernised website by next year, the NSO chief said on Friday.
“The savers will be able to operate their accounts from anywhere in the world,” said Zafar Sheikh, Director General NSO while speaking at the directors conference.
“It will also help us tap the savings of non-resident Pakistanis who get meagre returns on their money invested abroad.”
He said the focus of the organisation was on improving infrastructure with latest automated systems. Continue reading »
KARACHI: The government has notified the rules for the National Saving Bonds, which could also be traded in the stock exchange and could be pledged as securities in Pakistan. Continue reading »
Historical rates aplicable on saving schemes are as follows Continue reading »
Rate cut would apply to new investors only.
ISLAMABAD: The government plans to generate Rs240 billion through the National Savings Schemes (NSS) in the new fiscal year 2009-10 and automate 44 of the busiest centres of Central Directorate of National Savings (CDNS) by allocating Rs68 million.
The fiscal deficit target of 4.9 per cent of gross domestic product, equivalent to Rs722.5 billion, depends on resource inflow through domestic and external sources and the NSS, which is targeted to generate Rs240 billion. Continue reading »
The federal government has reduced the rates of profit on ‘National Savings Schemes’ effective on investment received on or after July 1st, 2009. As per the press release, issued by the Central Directorate of National Savings, the rates of profit on Special Savings Certificates (Registered)/Accounts, Regular Income Certificates, Bahbood Savings Certificates/ Pensioner’s Benefit Accounts and Savings Accounts have been cut to 11.67%, 12.00%, 14.16%, and 8.50% per annum respectively. The rate of profit on Defence Savings Certificates i.e. 12.15 per cent pa and the value & number of prizes on prize bonds remain unchanged. Continue reading »
LAHORE: The government on Tuesday decided to lower the profit rates on various national saving schemes by 1.5 percent, a private TV channel reported on Tuesday.slashed from 14.53 percent to 13.20 percent. The rates on five-year maturity regular income certificates have been cut to 13.60 percent from the previous 15 percent, while the saving account rate has been decreased by one percent to 9 percent. Continue reading »
ISLAMABAD: The Central Directorate of National Savings (CDNS) has crossed the Rs130 billion mark by luring investments in savings schemes till March 20 against a total target of Rs150 billion for financial year 2008-09.
Official sources confirmed to The News on Saturday that the finance ministry had set a target of Rs150 billion in investments in various schemes offered by the National Savings Scheme (NSS).
The target was set on the basis of introducing three new schemes including short-term financing certificate as well as a paper offering an attractive rate of profit to overseas Pakistanis sending remittances home. Continue reading »
By Mushfiq Ahmad
KARACHI: Investment in national savings schemes (NSS) saw a big jump during January thanks to increase in interest rates on different products effected by the government in December.
According to official figures, the government managed to raise Rs 25.96 billion in January, which is the highest amount raised in a month during the current financial year. The previous highest amount was Rs 11.79 billion in October. Total government borrowing through national savings schemes stood at Rs 74.98 billion and the government looks set to achieve its target of raising Rs 150 billion set for the full year.
Continue reading »
Investment from Abroad
Investors from abroad may send applications along with remittance of the desired amounts either directly Continue reading »
DG CDNS says if old investors want to benefit from new rates, they need to deposit service charges
By Mehtab Haider
ISLAMABAD: National Savings Schemes (NSS) generated Rs90 billion during last financial year 2007-08 against a target of Rs80 billion, data compiled by the Central Directorate of National Savings (CDNS) revealed on Tuesday.
The government has set a target of Rs150 billion for CDNS in current financial year 2008-09 but the finance ministry is said to be creating hurdles in the way of approving various products, currently in the pipeline. Continue reading »
By Sultan Ahmed
Many people with large savings or surplus incomes are looking for means to protect their wealth as purchasing power of the rupee falls, and multiply their savings, if possible. Continue reading »
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