The only source of income for a majority of senior citizens and retired individuals with no pension facility is the profit received through saving certificates issued by National Savings and other savings schemes offered by different banks. However, the interest rate has been drastically reduced by the SBP. There is almost no charm for citizens to deposit their hard-earned money in either banks or national saving centres.
The only hope in such difficult times for senior citizens is Behbood Saving Certificates where profits are still better than other schemes. The relevant ministry is requested to increase the rate of profit so that senior citizens can earn a decent amount of money. The PTI-led government should also fulfil its commitment to increase the amount of EOBI pensions from Rs8,500 to Rs15,000.
Engr Asim Nawab
Islamabad
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