Published On: Wed, Dec 18th, 2013
Published in Category: Karachi

National savings’ investments plunge down by 65pc

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KARACHI: The current hyperinflation in the country has eaten away the savings of the people, as is evident from the crash in national savings’ investments bringing down its rate of investment by 65 percent as compared to previous year.

Sources said that the volume of investment in saving schemes of National Savings Organization during July-October amounted to Rs63 billion as against Rs184 billion in the same period previous year.

Economists said that the savings in the country has been badly hit by rapid increase in the prices of goods and services, while the depreciating rupee has also proved detrimental to the saving trend in the country.

Investment-to-GDP ratio has been on the decline during the last few years, as it came sliding down from 13 percent to paltry 10 percent
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