In a recent financial update, the Pakistan government has implemented changes to profit rates across several national savings schemes, as revealed in a notification by the finance ministry.
The adjustment includes a reduction in the profit rate on Regular Income Certificates, now standing at 15.12%, down from the previous 16.08%. Similarly, the return on Special Savings Certificates has been scaled down to 16.40%, a decrease from the previous 18%.
Short-term certificates also witnessed a change in profit rates, with a reduction to 20.80%, compared to the previous 21.72%. Behbood Savings, Pension Benefit Account, and Shuhada Family Welfare Account now offer a return of 16.08%.
It is noteworthy that Defense Saving Certificates and Saving Accounts have not been affected by these adjustments, maintaining their existing rates.
This move comes as part of the government’s ongoing efforts to streamline the financial landscape and ensure stability. Despite the reductions in certain schemes, the government aims to strike a balance that allows for continued economic growth and financial security.
In a significant development earlier this year, the federal government had raised the profit rate on national savings’ Sarwa Islamic certificates effective from September 5, 2023. This adjustment was aimed at fostering a more favorable environment for investors.
These changes in profit rates underscore the dynamic nature of the financial sector, with the government making strategic adjustments to align with economic conditions and goals. Investors and savers are advised to stay informed about such updates to make well-informed financial decisions in a changing landscape.
