ISLAMABAD: The government of Pakistan has further reduced the rate of return on National Savings Scheme Certificate. The new rate will be applicable to new investments from today.

According to the details, the rate of return of National Savings Schemes has been further reduced and in this regard, the Ministry of Finance has issued a notification stating that the new rate will be applicable to new investments from June 2, 2020.

According to the notification, the rate of return on defense certificates has been reduced by 0.49 per cent, after which the new rate of return on defense certificates has been reduced to 8.05 per cent.

The government reduced the rate of return on welfare and pension certificates by 0.48 per cent to 9.84 per cent and the rate of return on savings accounts by 0.50 per cent to 6.50 per cent.

The notification said that the profit on Special Savings Certificate has been reduced from 0.90 per cent to 7.10 per cent while the rate of return on Regular Income Certificate has been reduced from 0.84 per cent to 7.44 per cent.

The National Savings Bank (NSB) has said that the rate of profit of the Martyrs' Family Welfare Account has been reduced to 9.84%.