Government's net borrowing from the state-sponsored savings instruments dropped in February from January due mainly to cut in yield rates, officials said.
The statistics of the Department of National Savings (DNS) show the net sales of savings certificates at Tk 25.86 billion in January while the figure shrank to Tk 25.22 billion in February this year.
Such a declining trend led to a decrease in overall sales of savings schemes by about 50 per cent during the eight months of Fiscal Year (FY) 2021-22 compared to the corresponding period of FY 2020-2021.
The figure shows the net sales of savings schemes amounted to Tk 146.89 billion in the July-February period of the current fiscal, while the figure was Tk 293.11 billion during the same period of the previous fiscal.
Officials attribute such a drastic fall to reduction in yield rates on savings instruments recently by the government.
Up to 2.0 per cent of yields were slashed on almost all savings schemes on September 21, 2021.
The DNS statistics found the gross sales of savings tools worth Tk 710.55 billion and encashment Tk 563.66 billion in the eight months. On the other hand, the yield payments during the period amounted to Tk 255.33 billion.
The government has fixed the borrowing target from savings tools at Tk 303.02 billion for the FY 2021-22.
Meanwhile, the DNS showed the net sales of national savings tools as high as Tk 419.59 billion in the FY 2020-21 against a target of Tk 200.00 billion.
Around 20 million investors are involved in this sector, officials said.
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