Net savings mobilized through Pakistan’s National Savings Schemes closed fiscal year 2025-26 at Rs292.6 billion on a cumulative basis, according to data released by the Central Directorate of National Savings and compiled by the State Bank of Pakistan. The annual figure reflects the net amount mobilized through various National Savings instruments during the fiscal year and provides an overview of household and institutional participation in government backed savings products.
June 2026, the final month of FY2025-26, contributed Rs23.6 billion in net savings mobilization. The monthly figure represented a rebound from the Rs18.4 billion recorded in May and brought monthly mobilization closer to the levels observed during much of the second half of the fiscal year. The June performance was supported largely by the Others category, while several of the named National Savings instruments recorded comparatively smaller inflows or continued to experience redemption pressure.
The Defence Savings Certificates segment recorded a net outflow of Rs2.9 billion in June, marking a significant deterioration from the Rs96 million outflow recorded in both April and May. The June figure represented the largest single month redemption for Defence Savings Certificates during FY2025-26. On a cumulative basis, the instrument ended the fiscal year with a net outflow of Rs15.1 billion, extending the redemption pressure experienced by the segment through much of the year.
Regular Income Certificates remained one of the stronger contributors to National Savings mobilization during the fiscal year. The instrument generated a net inflow of Rs5 billion in June, increasing from Rs2.4 billion in May. The June performance was also the strongest monthly result for Regular Income Certificates since March. On a full year basis, Regular Income Certificates recorded cumulative net inflows of Rs56.8 billion, making the instrument the strongest named contributor to overall mobilization during FY2025-26.
Special Savings Certificates also returned to positive territory during the final month of the fiscal year. The segment recorded a net inflow of Rs567 million in June, reversing the Rs91 million net outflow recorded in May. Despite the relatively modest monthly inflow, Special Savings Certificates closed FY2025-26 with cumulative net mobilization of Rs13.4 billion.
Prize Bonds generated Rs662 million in net mobilization during June, compared with Rs1.7 billion in May. The June figure represented the weakest monthly performance for Prize Bonds during FY2025-26. Despite the slowdown toward the end of the fiscal year, Prize Bonds recorded cumulative net mobilization of Rs24.2 billion over the full year, maintaining a positive contribution to overall National Savings mobilization.
The Others category remained the largest contributor to National Savings mobilization during June as well as across the full fiscal year. The category generated Rs20.2 billion in June, rising substantially from the Rs14.5 billion recorded in May. On a cumulative FY2025-26 basis, instruments included in the Others category accounted for Rs213.2 billion, representing the largest share of total net mobilization.
The Others category comprises several savings products, including Bahbood Savings Certificates, Pensioners’ Benefit Accounts, Shuhada Family Welfare Accounts and short duration savings accounts. The strong contribution from these instruments was a major factor behind the overall performance of National Savings Schemes during FY2025-26. Their combined mobilization significantly exceeded the contributions recorded by individual named instruments such as Regular Income Certificates, Prize Bonds and Special Savings Certificates.
The FY26 results show a mixed performance across individual National Savings instruments. While Regular Income Certificates and the Others category recorded substantial net inflows, Defence Savings Certificates remained under pressure as redemptions exceeded fresh mobilization. Special Savings Certificates and Prize Bonds maintained positive cumulative positions despite relatively softer monthly performance toward the end of the fiscal year.
Overall, National Savings Schemes closed FY2025-26 with Rs292.6 billion in net mobilization. The Rs23.6 billion recorded in June provided a stronger finish compared with May and helped bring the fiscal year to a close with continued positive net savings activity. The performance also highlights the differing preferences among savers across the various government backed savings products, with pension related, welfare focused and income generating instruments accounting for a substantial portion of total mobilization.
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