Latest news with #DefenceSavingCertificates
Business Recorder
12-07-2025
- Business
- Business Recorder
Freight forwarders asked to deposit security in shape of DSCs
ISLAMABAD: The Federal Board of Revenue (FBR) has directed new freight forwarders to deposit a sum of Rs 200,000 as security deposit for operating in one customs station and Rs 500,000 as security deposit for operating in more than one customs station, in the shape of Defence Saving Certificates (DSCs). The FBR has issued SRO 1222 (l)2025 to amend Customs Rules 2001 to issue new rules. According to the new rules, any person who seeks to obtain licence as freight forwarder shall make an application to the licensing authority on the format as set out in Form-A along with the specified documents with treasury challan evidencing payment of Rs 5,000 in favour of the Collector of Customs, on account of application processing fee, which shall be non-refundable. FBR issues licensing procedure for aspiring freight forwarders Upon receipt of application, the licencing authority, shall issue licence subject to fulfilment of the following conditions: (a) The applicant fulfills the conditions for grant of licence under these Rules. (b) Deposits a sum of two hundred thousand Rupees as security' deposit for operating in one customs station and five hundred thousand Rupees as security deposit for operating in more than one customs station, in the shape of Defence Saving Certificates, pledged to the Collector of Customs; and (c) execute a bond for ensuring good conduct and to follow customs rules and regulations. Copyright Business Recorder, 2025
Express Tribune
02-07-2025
- Business
- Express Tribune
Govt cuts profit rates for National Savings Schemes
Listen to article The federal government has further reduced the profit rates on National Savings Schemes. According to the Central Directorate of National Savings (CDNS), profit rate on Defence Saving Certificates has been decreased by 15 basis points (bps), from 11.91 per cent to 11.76 per cent. The profit rate on Special Saving Certificates has been significantly reduced by 30bps, bringing it down from 10.90 per cent to 10.60 per cent. For Islamic Saving Account, the profit rate has been reduced by 59bps, setting the current rate at 9.75 per cent. The profit on the Shuhada Family Welfare Account has been reduced by 24bps, and the profit on Regular Income Certificates has also been reduced by 20bps. National Savings Profit Rates — Topline Securities (@toplinesec) July 2, 2025 Earlier in May, the CDNS had reduced rates of return on several National Savings Schemes, with cuts up to 100bps. The Savings Account rate dropped by 100bps to 9.5 per cent from 10.50 per cent, according to Topline Securities. Defence Saving Certificates returns fell by 21bps to 11.91 per cent from 12.12 per cent, while Bahbood Savings Certificates declined by 24bps to 13.44 per cent from 13.68 per cent. Rates for Pensioners Benefit Account and Shuhda Family Welfare Account were also lowered by 24bps each, now standing at 13.44 per cent. Similarly, Regular Income Certificates returns decreased by 18bps to 11.52 per cent from 11.70 per cent.
Business Recorder
02-07-2025
- Business
- Business Recorder
National Saving Schemes: CDNS lowers rates of return
The Central Directorate of National Savings (CDNS) has reduced the rates of return on a number of its National Savings Schemes (NSS) with effect from June 27, 2025, it was learnt on Wednesday. The rate of Saving Account (SA) remained unchanged at 9.50%, brokerage house Topline Securities reported. The Defence Saving Certificates (DSC) will offer a return of 11.76%, after a decline of 15bps from 11.91%. The return on Bahbood Savings Certificates (BSC) declined by 24bps to 13.20% from 13.44%. National Saving Schemes: CDNS revises rates of return downwards Meanwhile, the rates of Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) also lowered by 24bps each, to 13.20% each. Similarly, Regular Income Certificates (RIC) will offer an 11.16% return, as compared to 11.52% earlier, a drop of 36bps. Special Savings Certificate (SSC) will now offer return of 10.6% amid a drop of 30bps. Meanwhile, the rates of Serwa Islamic Saving Account (SISA) and Serwa Islamic Term Account (SITA) also lowered by 59bps each, to 9.75% each.
Business Recorder
28-06-2025
- Business
- Business Recorder
Stocks emerge as best-performing asset class in Pakistan for FY25
Stocks emerged as the top-performing asset class in FY25 with a return exceeding 55%, led by aggressive monetary easing, improved market liquidity, and the unlocking of fundamental value across key sectors, said Arif Habib Limited (AHL). 'The KSE-100 exhibits the strongest performance across all asset classes, boasting a FY25 return of 55.58%, significantly outperforming gold (47.56%), T-Bills (12.68%), Defence Saving Certificates (12.61%), bank deposits (12.60%), PIBs (11.97%), and USD/PKR (1.91%),' AHL said, in its report on Friday. As per the brokerage house, the KSE-100's (benchmark index of the Pakistan Stock Exchange) returns consistently outshine those of other major asset categories. 'Even the historical gains from gold and T-Bills in recent times have been unable to match the impressive surge of the equity market.' It added that the KSE-100's CAGR, or Compound Annual Growth Rate, is higher than all other asset classes in every long-term benchmark, from a 5-year holding period to a 20-year holding period. 'This performance suggests that the KSE-100, particularly the equity market, is the most lucrative asset class for investors with a long-term horizon in Pakistan,' it added. KSE-100 in FY25 During the outgoing fiscal, the KSE-100 Index delivered a stellar performance, surging by 58.6% in PKR terms and an impressive 55.5% in USD terms to close at 124,379, up from 78,445 at the end of FY24. 'This remarkable rally was driven by aggressive monetary easing, improved market liquidity, and the unlocking of fundamental value across key sectors,' said AHL. The brokerage house shared that FY25 also witnessed record market participation, with the highest-ever trading volumes and the highest traded value since FY21. During FY25, the State Bank of Pakistan (SBP) slashed the policy rate from 21.5% to 11%, marking one of the most aggressive easing cycles in the country's history. Moreover, Fitch Ratings upgraded Pakistan's credit rating from CCC+ to B- following successful staff-level agreements with the IMF on the $7 billion Extended Fund Facility and the $1.3 billion Resilience and Sustainability Facility. Meanwhile, the PKR depreciated by a modest 1.9% against the USD FY25. However, despite the gains, geopolitical tensions jolted the market during the year, with sharp declines triggered by escalations between Pakistan and India in May'25, and Iran and Israel in Jun'25. 'However, subsequent ceasefires fueled some of the strongest market rallies in recent history,' it said.
Express Tribune
21-05-2025
- Business
- Express Tribune
Profit rates revised for National Savings schemes
The Central Directorate of National Savings (CDNS) has reduced rates of return on several National Savings Schemes (NSS), with cuts up to 100 basis points (bps), it was reported on Wednesday The Savings Account (SA) rate dropped by 100bps to 9.50% from 10.50%, according to Topline Securities. Defence Saving Certificates (DSC) returns fell by 21bps to 11.91% from 12.12%, while Bahbood Savings Certificates (BSC) declined by 24bps to 13.44% from 13.68%. Rates for Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) were also lowered by 24bps each, now standing at 13.44%. Similarly, Regular Income Certificates (RIC) returns decreased by 18bps to 11.52% from 11.70%.
