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National Saving Schemes and the misconception

KARACHI: In the last 5-6 years and unprecedented growth in savings portfolio of National Saving Schemes (NSS) and particularly its double digit ratio versus GDP attracted the attention of all financial lizards inside and outside Pakistan particularly in the neighboring countries which also irritated multilateral and bilateral agencies. It not only reduced the dependency of government on the banks but also provided financial relief to the small investors’ particularly senior citizens and widows. At the end of last fiscal…