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Daudpota terms saving rate as 'unsatisfactory'

KARACHI: Sindh Governor Air Marshal Azim Daudpota (Retd) on Saturday termed the present saving rate in the country as "unsatisfactory" and called for immediate measures to enhance it by controlling unnecessary expenses.

Speaking at the inauguration of a model branch of National Savings in Gulshan-e-Iqbal, he said improvement in the rate of national savings would lessen the country's dependence on international financial institutions.

He said the National Savings should introduce computerisation in its branches to provide easy, quick and modern services to the investors.

National Savings, which was playing an important role in running the government affairs, needed further attention to improve performance and output of the institution.

Earlier, National Savings Director General Ahmad Owais Pirzada said that Karachi region provided 30 percent of the total investment in National Savings.

He said there were a total of 366 branches of National Savings in the country including Azad Jammu and Kashmir. The government was currently in a process to computerise all national saving branches to improve performance.

He agreed that there was shortage of staff in the branches but steps were being taken to increase the output. PPI