Pakistan slashes profit margin on National Savings certificates

ISLAMABAD: The Pakistan government has slashed profit rates for various national savings schemes, according to a notification issued by the finance ministry.

The profit rate on Special Saving Certificates has been reduced to 15.6 per cent from 16 per cent. Likewise, the return on Short-Term Saving Certificates has been scaled down 19.76 per cent from 20.34%.

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Similarly, the profit rate on Regular Income Certificates has been reduced to 14.64 per cent from 15 per cent, while the profit margin on the Defense Saving Certificates to 13.67 per cent from 14.22 per cent.

Earlier on January 26, the Pakistan government slashed profit rates for various national savings schemes.

According to a notification issued by the finance ministry, the profit rate on Regular Income Certificates was reduced to 15 per cent from 15.12 per cent. Likewise, the return on National Saving Certificates was trimmed to 16 per cent from 16.40%.

Similarly, the profit rate on short-term certificates has been reduced to 20.34 per cent from 20.80 per cent.