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 Regular Income Certificates has been reduced to 15 per cent from 15.12 per cent. Likewise, the return on National Saving Certificates has been scaled down 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.
However, the rate of return on Defense Saving Certificates has been reduced to 14.22 per cent from 14.41 per cent.
The returns on Behbood Savings, Pension Benefit Account and Shuhada Family Welfare Account remain unchanged at 16.08 per cent.
In September, the federal government raised the profit rate on national savings’ Sarwa Islamic certificates with effect from September 5, 2023.
