National Saving Scheme total portfolio crosses Rs 1.72tr
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"It is baseless that due to traumatized trust on the government, the funds are being withdrawn from the NSS.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 These figures are sufficient to deny the groundless contention that funds are heavily withdrawn from NSS", the CDNS statement said.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