Following the decision of the State Bank of Pakistan (SBP), the government has amended profit rates on several national savings schemes, following the government’s decision to maintain a policy rate at 12 %, Information Notified.
The Central Directorate of National Savings (CDNS) increased the return on a short -term savings certificate to 10.96 %, which increased by 15 points to 10.81 %, while the Defense Saving Certificate now offers 12.15 %, which is 12.14 %. Each of the return to the Pensioner Benefit Account, the Bahabod Savings Certificate, and the Shuhada Family Welfare Account has been increased by 10 points.
The Sarva Islamic Term Account and the Sarva Islamic Savings Account increased the biggest, both increased on a 70 basis. However, the regular savings account rate decreased by 100 points, up from 11.5 % to 10.5 %.
CDN, which manages more than Rs 3.4 trillion in assets and serve more than four million consumers across the country, play a key role in supporting the government’s financing needs. According to the Pakistan Bureau of Statistics, these changes have emerged as inflation, which is measured by consumer pricing index, which was reduced to 1.5 percent year-on-year year by year-which is the lowest in almost a decade-less than 2.4 percent in January.
