He said this while briefing newsmen about the achievements of National Saving Schemes during 2006-07. He said that net portfolio investment in national saving schemes was Rs 1.067 trillion, with over 6 million customers.
He said that total gross inflow growth was 21 percent, with Rs 484 billion, during the year, whereas gross outflow was 6 percent, with Rs 416 million. Total volume of business was Rs 1078 billion, showing 22 percent growth, he added. Giving details of bifurcation of gross inflows and outflow, he said that inflow in certificates was Rs 241 billion. The inflows in accounts were Rs 148 billion whereas in prize bonds it was Rs 95 billion.
About outflows, he said that in certificates it was Rs 210 billion, in accounts it were Rs 121 billion and in prize bounds it were Rs 86 billion. Pirzada said that institutions have been allowed to invest as much as they want in the national saving schemes.
Talks are being held with the officials of Saudi Arabia, Kuwait and Qatar to start national saving schemes for overseas Pakistani living in these countries whereas Pakistani living in United Arab Emirates (UAE), Oman and Bahrain are being facilitated to invest in national saving schemes through Pakistani banks' branches in those countries, he added.
He said that a number of steps, including automation, setting up of ATM machine are being taken to provide better services to the consumers. ATM machines are being established in Rawalpindi and Islamabad and it would be only for national saving schemes consumers, he said.