Investment in NSS up by 75%, told PAC

ISLAMABAD: Investment in National Saving Schemes (NSS) has surged to record high by 75 percent during last three years, Geo News reported.

The total amount of investment in NSSs has been estimated at Rs.17 trillion, sources said.

The Director General of Central Directorate of National Savings Zafar Sheikh told Public Accounts Committee (PAC) that the investment in NSS could likely go up by 3 trillion rupees to reach a total of Rs.20 trillion during the ongoing fiscal year.

He said that the amount of capital in national savings stood at Rs.20 billion in 1984 while the employees running the institution were 3400 in number however, no increase has been witnessed in the number of employees since then.

He said this negligence has been tantamount to multiplication of problems in running the institution due to quick rise in the number of account holders with no surge in employees.