Pakistan reduces profit rates on National Savings schemes
They will be applicable from May 19 SAMAA | Shakeel Ahmed - Posted: May 18, 2021 | Last Updated: 3 days ago SAMAA | Shakeel Ahmed Posted: May 18, 2021 | Last Updated: 3 days ago
Photo: SAMAA Digital
The government has reduced profit rates on National Savings schemes, the Ministry of Finance said in a notification Tuesday.
The profit on Shuhada Family Welfare Accounts and Pensioners
Benefit Accounts has been reduced to 11.04% from 11.52%, according to the
notification.
The government has reduced the profit on Regular Income
Certificates by Rs600 to Rs7,200.
Short-term Savings Certificates worth Rs500,000 have their
profit slashed by Rs500, the notification read. People having these
Salman Khan
KARACHI: The most attractive long-term domestic papers Pakistan Investment Bonds (PIBs) witnessed another significant cut up to 65 basis points in the auction held on Thursday.
The auction was held for fixed rate PIBs. The government, which has been raising maximum liquidity from banks, slashed cut-off yields on all PIBs for all tenors.
The details issued by the State Bank of Pakistan (SBP) showed that the highest cut was for the five-year PIBs as the rate fell to 9.2 per cent from 9.85pc in the previous auction a cut of 65bps. The government raised Rs68.8 billion for this tenor.
The shortest tenor for the fixed rate PIBs was three-years, with the cut-off yield slashed by 57 bps to 8.7pc. The government raised Rs75.5bn for this period.
Updated Mar 11, 2021 | 07:29 IST
Long-term investing can help to accumulate a sizable corpus and help an investor to understand the market cycles Know how debt investments are taxed | Photo Credit: BCCL
New Delhi: Just as it takes all kinds to make the world, there are all kinds of instruments in the fixed-income bucket.
As investments to save tax will have to be done every year, we need to spread out the long-term investments for compounding benefits. Long-term investing can help to accumulate a sizable corpus and help an investor to understand the market cycles.
Know tax implications on debt investments