Continuous decline in profits on NSS certificates by finance ministry, SBP is disturbing those who use such schemes
LAHORE: National Savings Schemes are useful for people like pensioners, widows, orphans and the disabled to gain profits on what they have saved. But the continuous decline in profits on National Savings Schemes certificates by the finance ministry and the State Bank of Pakistan (SBP) is disturbing for all those people making use of such schemes. The profits are so low that the money cannot be used for anything consequential. These people are known to be completely dependent on National Savings Schemes and it is a shame that the central bank is geared towards its own profit-making motives, instead of working for their well-being.
This decline in profits is due to reduction in the interest rate by the SBP. The finance ministry and the central bank need to think about the lives of these helpless people and should consider their policy regarding profit rates of these schemes, which are continuously decreasing year after year.
Ahmad Humayun Asghar
Published in The Express Tribune, January 14th, 2015.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.
