ISLAMABAD, June 17: The government on Saturday announced that it had revised upward the rates of return on all national saving schemes with effect from June 5.

The rate of return on Special Savings Certificates and Accounts has been increased from 8.6 per cent to 9.17 per cent, on Regular Income Certificates from 8.88 per cent to 9.24 per cent, on Defence Savings Certificates from 9.46 per cent to 10 per cent, on Pensioners’ Benefit Account and Bahbood Savings Certificates from 11.04 per cent to 11.52 per cent and on Savings Accounts from five per cent to six per cent.

An official announcement said the government was improving facilities at the savings centres to make interaction of investors with them easier.

It said the National Savings Organisation was moving fast towards automation in line with the government’s policy to provide better and efficient services to the investors at its outlets. The project was likely to be completed by the end of 2007, it said.

Once automation was completed, more investment options would be provided to people, it said.