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Get the highest profit on naya pakistan saving certificates

Naya Pakistan Saving

ISLAMABAD: In a bid to entice investors with promising returns, the federal government announced a significant upward adjustment in profit rates for Naya Pakistan Saving Certificates on Friday.

For individuals opting for a one-year investment in NPC, the profit rate has been substantially increased by 6%, yielding an attractive return of 21.50%.

For those who opt to invest in US dollars for a year, the profit rate has been raised by 1.50%, resulting in an enticing 9% return.

In the case of a three-month investment in US dollars in NPC, the profit rate has been adjusted upward by 1.25%, now reaching an appealing 8.25%.

Meanwhile, domestic investors in rupees will enjoy an impressive 6% increase. They will receive a remarkable 21% return for a three-month investment.

For US dollar investments over a six-month period in NPC, the profit rate has received a boost of 1.30%.

Now the investors will get a competitive 8.50% return. Rupee investors will experience a substantial 6% increase in profit rates for a six-month investment, resulting in an attractive return of 21.25%.

SBP’s reserves further fall after repayment of loan

Meanwhile, the foreign exchange reserves with the State Bank of Pakistan fell by $140 million (1.8%), closing at $7.64 billion during the week, ending Sept 8, 2023.

The decline was due to debt repayment of foreign loans. The central bank stated this in a statement issued Thursday evening.

Foreign loan repayment further eroded the SBP’s reserves last week.

Similarly, the country’s total reserves decreased by $47.6m or 0.36% WoW to $13.08bn. The commercial banks’ reserves, nonetheless, surged by $92.8m or 1.74% WoW to $5.44bn.

Since the Staff Level Agreement (SLA signed with the International Monetary Fund (IMF), the total liquid foreign reserves got a substantial boost with a $1.2 billion immediate disbursement from the IMF. Additionally, Pakistan received a $2bn deposit from Saudi Arabia and an additional $1bn deposit from the United Arab Emirates (UAE).

Consequently, in the current fiscal year, total liquid foreign reserves have increased by $3.9bn or 42.45%.

However, ever since the boost from the IMF and the Arab countries, fresh inflows seem to have dried up, with the total reserves slowly depleting almost every week.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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