Islamabad: People have deposited a record Rs150 billion in the national saving schemes during the first two and half months of the current financial year, according to finance ministry sources
This is three times the amount deposited in these schemes during the corresponding period last year. Around 2 billion rupees were invested in the Short Term Certificates Scheme in just 76 days.
Sources close to the finance ministry disclosed that the ministry has allowed the National Savings directorate to issue Student Welfare Bonds from October 15, 2012. This new bond will be of Rs100 denomination and will carry Rs700,000 prize money.
The ministry has also allowed the savings directorate to introduce Haj Bond Scheme. Under this scheme an individual will have to deposit Rs5000 per month in his special account in any National Saving Centre for 36 months. After three years he will get around Rs250,000, enough to perform Haj.
The ministry also plans to increase the number of National Savings Centres in the country from the present 380 to 450 before March 2013. For this 1250 new vacancies will be created in the National Savings Directorate General.