Pakistan National Saving Schemes profit rates decreased from 1-Jan-13

 National Savings  2 Responses »
Jan 022013
 

The government has revised down the interest rates on the National Savings Schemes (NSS) on investments with effect from January 1, 2013, according to a statement.

 According to the announcement made by the Central Directorate of National Savings (CDNS), in response to considerable slash in the discount rate by the State Bank of Pakistan (SBP), the government has revised down the profit rates on National Savings Schemes for the investment made on or after January 1, 2013.

The instant revision is made in the b Continue reading »

 Posted by at 12:48 pm

Pak Government intends to float fresh short-term National Saving Schemes

 National Savings  Comments Off
Jul 012011
 

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 »

 Posted by at 3:40 am

Pakistan National Savings Orgainsation to go high-tech next year

 National Savings  1 Response »
Nov 062010
 

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 »

 Posted by at 12:46 pm

Pakistan Government plans to generate Rs240bn via National Saving Schemes

 National Savings  1 Response »
Jul 022009
 

Rate cut would apply to new investors only.

Existing investors would not be affected by the reduction.
 By Mehtab Haider

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 »

 Posted by at 6:42 pm

Pakistan National Saving Certificates profits curtailed-1-July-09

 National Savings  10 Responses »
Jul 012009
 

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 »

 Posted by at 6:45 am

Profit rate on Pakistan national saving schemes cut by 1.5% from 1-Apr-09

 National Savings  8 Responses »
Apr 012009
 

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 »

 Posted by at 8:40 am

Pakistan National Savings schemes attract over Rs130bn

 National Savings  Comments Off
Mar 222009
 

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 »

 Posted by at 9:09 am

Big jump in Pakistan National savings (NSS) investments

 National Savings  Comments Off
Mar 152009
 

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 »

 Posted by at 4:11 pm

Pakistan National Saving Schemes attracts Rs90bn investment

 National Savings  2 Responses »
Oct 292008
 

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 »

 Posted by at 7:20 am
Page 1 of 212