Na­tional Sav­ing Scheme to­tal port­fo­lio crosses Rs 1.72tr

The Pak Banker - - 2national -

IS­LAM­ABAD: The Na­tional Sav­ing Scheme (NSS) has wit­nessed in­crease in the in­flows dur­ing the last three years ten­ure and the to­tal port­fo­lio has crossed the his­toric fig­ure of Rs. 1721 bil­lion.

"It is base­less that due to trau­ma­tized trust on the govern­ment, the funds are be­ing with­drawn from the NSS. In fact, the NSS has wit­nessed phe­nom­e­nal in­crease in the in­flows dur­ing the last three years ten­ure of demo­cratic govern­ment and the to­tal port­fo­lio has crossed the his­toric fig­ure of Rs. 1721 bil­lion," a state­ment of Cen­tral Di­rec­torate of Na­tional Sav­ings (CDNS) is­sued here said.

In a clar­i­fi­ca­tion, it termed news item as mis­lead­ing re­gard­ing out­flows of funds from NSS, pub­lished in a sec­tion of press.

The Cen­tral Di­rec­torate of Na­tional Sav­ings strongly con­tra­dicts the de­cep­tive con­tents of the news item.

It fur­ther clar­i­fied that the to­tal net in­flow of fund af­ter pay­ing off ma­tured loans in Na­tional Sav­ings schemes dur­ing FY-2007-08 re­mained Rs.89.5 bil­lion against the ini­tial tar­get of Rs.40 bil­lion.

It said that dur­ing FY2008-9 the govern­ment had fixed the net in­vest­ment tar­get of Rs.150 bil­lion but the NSS has wit­nessed a record mo­bi­liza­tion of funds and at­tracted the to­tal net in­vest­ment to the tune of Rs.267.20 bil­lion high­est in the his­tory of Na­tional Sav­ings.

"It is due to un­shake­able trust of the valu­able in­vestors that de­spite of de­crease in profit rates, the net in­vest­ment dur­ing FY-2009-10 was recorded at Rs.225.70 bil­lion against the tar­get of Rs.220 bil­lion. These fig­ures are suf­fi­cient to deny the ground­less con­tention that funds are heav­ily with­drawn from NSS", the CDNS state­ment said. -Ap

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