Net savings mobilized through National Savings Schemes (NSS) reached Rs53.2 billion in July 2026, marking a strong opening to the fiscal year 2026-27. The data released by the Central Directorate of National Savings (CDNS) and compiled by the State Bank of Pakistan shows a significant increase in net mobilization through government savings instruments during the first month of the new fiscal year.
The July 2026 figure surpassed every monthly reading recorded during fiscal year 2025-26. It was also higher than the Rs44.2 billion mobilized in July 2025, which serves as the year ago comparison. On a month on month basis, the increase was particularly significant, with net savings rising by approximately Rs29.7 billion from Rs23.6 billion recorded in June 2026. The sharp increase indicates stronger retail participation in government savings instruments as the new fiscal year began.
Among the individual instruments, Defence Savings Certificates (DSC) recorded a net inflow of Rs54 million in July 2026. This marked a reversal from the Rs2.9 billion net outflow recorded in June. Defence Savings Certificates are long duration savings instruments designed for capital preservation over the medium term. Despite the positive July reading, the instrument had recorded a cumulative net outflow of Rs15.1 billion during FY2025-26.
Regular Income Certificates (RIC) remained one of the major contributors during July, generating net inflows of Rs11.8 billion. The figure was more than twice the Rs5.0 billion recorded in June 2026. RIC is a key National Savings instrument for retail investors seeking regular monthly income through scheduled payouts. During FY2025-26, RIC was the strongest contributor among the named instruments, recording cumulative net inflows of Rs56.8 billion.
Special Savings Certificates (SSC) also posted a notable increase in July. Net inflows reached Rs4.1 billion compared with Rs567 million in June 2026. These medium term certificates provide returns through compounding, with payment made at maturity. During the full FY2025-26 period, Special Savings Certificates contributed cumulative net inflows of Rs13.4 billion, making July’s performance a significant improvement over the previous month.
Prize Bonds recorded net mobilization of Rs2.9 billion in July, compared with Rs662 million in June. Unlike interest bearing savings instruments, Prize Bonds represent a separate mobilization category in which net flows are determined by the difference between new purchases and redemptions of non interest bearing, lottery linked instruments. During FY2025-26, Prize Bonds generated Rs24.2 billion in cumulative net mobilization.
The largest contribution during July came from the Others category, which generated Rs34.3 billion in net savings compared with Rs20.2 billion in June. This category includes instruments such as Bahbood Savings Certificates, Pensioners’ Benefit Accounts, Shuhada Family Welfare Accounts, and short duration savings accounts. The Others segment also remained the largest contributor throughout FY2025-26, accounting for Rs213.2 billion of total net mobilization during the year.
Overall, National Savings Schemes mobilized Rs53.2 billion during July 2026, compared with total net mobilization of Rs292.6 billion throughout FY2025-26. The strong July performance provides a positive opening to FY2026-27, with all major categories showing either increased inflows or a reversal from previous outflows. The data indicates that demand for government savings instruments strengthened considerably at the beginning of the new fiscal year.
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