*ISLAMABAD : **Significant reduction in the profit rates of NationalSaving Schemes in Pakistan.*
The federal government has reduced the rate of profit on various NationalSavings Schemes by up to 5.42 per cent with effect from Friday, accordingto a notification.
The profit rate on Defence Saving Certificate was reduced to 8.54 per centfrom 10.40. Similarly, for 10-year Pensioners’ Benefit Account, BehboodSaving Certificates and Shuhadas Family Welfare Account, it hasbeen reduced to 10.32 per cent from 12.24 per cent.
The profit rate for certificate holders of five-year Regular IncomeCertificates has been reduced to 8.28 per cent from 10.56 per cent while itwas reduced to 8 per cent from 11 per cent for Special Saving Certificates.
Read Top Stories
The average profit rate on certificates and accounts was reduced from 11.13per cent to 8.10% per cent.
In short-term saving certificates, the profit rate on three-monthcertificates has been reduced from 12.76 per cent to 7.80 per cent. onsix-month certificates, the profit rate has been reduced from 12.60 percent to 7.50 per cent.
