NSS profit rates.

Byline: Tariq Waseem - Lahore

The National Savings directorate has not raised profit rates on its various savings schemes, including Behbood certificates, in line with the State Bank of Pakistan's increase in key interest rates that were announced on Feb 1, 2019.

It is probably for the first time in the country's history that a raise in profit rates following an SBP increase was not announced. The reason is obvious; control the growing fiscal deficit.

It is true that the country is facing serious economic issues, but disallowing a raise in NSS schemes is a blow to senior citizens, widows and small savers who can ill-afford the...