Swelling portfolio: Savings schemes fetch Rs385b
With a 15% increase in the portfolio in the previous fiscal year, the debt servicing cost has dropped 16.2%.
ISLAMABAD:
The National Savings Organisation has said that it fetched a record net investment of Rs385 billion in fiscal year 2012-13 despite multiple cuts in interest rates. Its portfolio has jumped to Rs2.46 trillion. In a press release, the NSO says it is recording new chapters of success because of trust of investors and this comes despite a gloomy financial and economic scenario around the world. It says the SBP revealed that national savings schemes have been a most cost-effective avenue of funding for the government. With a 15% increase in the portfolio in the previous fiscal year, the debt servicing cost has dropped 16.2%. “This reduction has obviously lessened fiscal pressure and an all-time high positive cash flow has been recorded in NSS inflows,” it says.
Published in The Express Tribune, August 23rd 2013.
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