Islamabad (Business Reporter): Finance Ministry has forbidden Financial Institutions to invest in the National Saving Certificates from July 1, 2020.
State Bank recommended finance ministry to take immediate actions as financial institutions were parking huge amount in the National Savings fro some time. “Banks had adopted easy way out by investing money in the NSC,” said an analyst. “Now banks will move to the share bazaar or other investment avenues.”
Another analyst said, Share Bazaar would be the ultimate parking area for the financial institutions. Government has been struggling to arrange investment for the housing scheme to boost construction sector. However, banks have not shown much enthusiasm due to prevailing economic situation.