AGL 39.75 Decreased By ▼ -0.25 (-0.63%)
AIRLINK 132.10 Increased By ▲ 3.04 (2.36%)
BOP 6.82 Increased By ▲ 0.07 (1.04%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.45 Decreased By ▼ -0.10 (-1.17%)
DFML 41.50 Increased By ▲ 0.68 (1.67%)
DGKC 82.30 Increased By ▲ 1.34 (1.66%)
FCCL 33.00 Increased By ▲ 0.23 (0.7%)
FFBL 72.85 Decreased By ▼ -1.58 (-2.12%)
FFL 12.03 Increased By ▲ 0.29 (2.47%)
HUBC 110.75 Increased By ▲ 1.17 (1.07%)
HUMNL 14.50 Increased By ▲ 0.75 (5.45%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.64 Decreased By ▼ -0.08 (-1.04%)
MLCF 38.83 Increased By ▲ 0.23 (0.6%)
NBP 64.25 Increased By ▲ 0.74 (1.17%)
OGDC 193.40 Decreased By ▼ -1.29 (-0.66%)
PAEL 25.60 Decreased By ▼ -0.11 (-0.43%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.00 Decreased By ▼ -1.45 (-0.93%)
PRL 25.81 Increased By ▲ 0.02 (0.08%)
PTC 17.80 Increased By ▲ 0.30 (1.71%)
SEARL 82.00 Increased By ▲ 3.35 (4.26%)
TELE 7.70 Decreased By ▼ -0.16 (-2.04%)
TOMCL 33.35 Decreased By ▼ -0.38 (-1.13%)
TPLP 8.53 Increased By ▲ 0.13 (1.55%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.30 Decreased By ▼ -0.92 (-1.58%)
UNITY 27.50 Increased By ▲ 0.01 (0.04%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,518 Increased By 73.3 (0.7%)
BR30 31,248 Increased By 58.6 (0.19%)
KSE100 98,160 Increased By 361.5 (0.37%)
KSE30 30,569 Increased By 87.8 (0.29%)

The government has increased the rates of return on all national savings schemes, effective from June 5, 2006. An official statement issued here on Saturday said that the federal government has decided to increase the rates of profit on special saving certificates/accounts, regular income certificates, defence saving certificates, pensioner''s benefit accounts/bahbood savings certificates, savings account and prize bonds.
State Minister for Finance Omer Ayub had announced the raise in his Budget speech on June 5 to mitigate the financial hardships being faced by investors of National Savings Schemes, particularly the vulnerable groups ie widows, senior citizens and pensioners.
On account of rising cost of living, the government has raised the rates of profit on Special Saving Certificates/Accounts, Regular Income Certificates, Defence Saving Certificates, Pensioner''s Benefit Accounts/Bahbood Savings Certificates, Savings Account and Prize Bonds from 8.6 percent, 8.88 percent, 9.46 percent, 11.04 percent, 5.00 percent and 5.00 percent to 9.17 percent, 9.24 percent, 10.0 percent, 11.52 percent, 6.00 percent and 6.50 percent respectively, the statement said.
The government is also improving facilities at the Savings Centres so that the investors could feel comfortable while interacting with National Savings Centres, the statement added.
The ''Pensioner''s Benefit Account'' for the benefit of pensioners and the ''Bahbood Saving Certificates'' for widows/senior citizens would be helpful to reduce the economic burden of the pensioners and widows/senior citizens, further providing them an opportunity to keep their money in safe custody, it hoped.
The National Savings Organisation is also moving fast towards automation in line with the government''s policy to provide better and efficient services to the investors at its outlets by the end of year 2007, the statement added.-PR

Copyright Business Recorder, 2006

Comments

Comments are closed.