CDNS clarifies decline in savings

National savings correlate with the auction of initial Pakistan Investment Bonds (PIB)


Press Release February 18, 2018
National savings correlate with the auction of initial Pakistan Investment Bonds (PIB) PHOTO: FILE

ISLAMABAD: Various newspapers published news regarding deterioration in national savings growth rate. In this regard, national savings considered it important to clear this confusion through a press release. Business evacuations have been witnessed in three-year schemes in which the percentage of profit, like other schemes of national savings, correlates with the auction of initial Pakistan Investment Bonds (PIB). PIBs’ bids of the preceding six months have been rejected in auctions while after September 17; no auction took place on T-bills of 1.5 years. Due to which no change has been made in profit rate of schemes of national savings and it sustains the February 2017 surface. On the other hand, the profit rate in market, including secondary market rates of PIB, have been increasing. Following this trend, there exists temporary disparity in the market due to which deterioration in investment rate and investment through medium deposits in the national savings have surfaced.  

Published in The Express Tribune, February 18th, 2018.

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