Returns on National Savings slashed

KARACHI: The government has sharply reduced returns on savings accounts by up to 360 basis points, further challenging small investors.

Profit rates for National Savings Schemes (NSS) have been revised across all categories, with only slight reductions for pensioners, Shuhada and Bahbood scheme for widows.

The NSS, launched in 1966 to attract investments, initially saw strong participation, but its appeal shifted when corporate entities began leveraging these schemes for risk-free returns.