Govt ban on institutional investment in NSS applauded.

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday lauded the decision of the government to ban investment by institutions in the national saving schemes (NSS).

The move will divert bank loans towards the private sector which will boost the economic activity and GDP provided if all venues for secretive investments by institutions in NSS are discouraged in an effective way, he said.

Mian Zahid Hussain said that banks have always remained interested in lending to the government and NSS to get more profit. Banks would give negative returns to account holders and grab a bigger pie by investing in NSS which has been stopped which will improve the economic situation.

Talking to the business community, the veteran business leader said that inflation has taken a toll on the...