Function of National Saving Organization [PDF]

Function of National Saving Organization for generation of pool of funds for country: the fundamental perform of this organization is to come up with the pool of funds from the state by a trustworthy and ensured govt. body. Motivation towards savings: the target of national savings was to make motivations towards savings among folks of Pakistan.

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Executive Summary of Function of National Saving Organization

Mobilization of idle savings is necessary for the economic development of any country.
Pakistan is trying to do so through national savings, as said earlier, and to reinvest them
in the required or desired segment/ sector of economy. The objective of national savings
was to create motivations towards savings among people of Pakistan . Now it is trying
well for this objective. People are concentrating toward the schemes of national savings.
Function of National Saving Organization also, launched many schemes for the attainment of this purpose like
prize bonds, certificates etc.

Basics of Function of National Saving Organization

Generation of pool of funds for country:
The basic function of this organization is to generate the pool of funds from the nation by a
trusted and ensured govt. body.
Promotion of savings:
The main and basic purpose of national savings was to collect the small amounts of savings from
lower class & middle class of the society of Pakistan. Because the amounts of savings in this
segment of people are very low so they often try to avoid the investment of this amount. National
saving’s prime purpose
was to create confidence among these people and collect their small savings through its savings
schemes.
Mobilization of idle savings:
Mobilization of idle savings is necessary for the economic development of any country. So
Pakistan is trying to do so through national savings, as said earlier, and to reinvest them in the
required or desired segment/sector of economy.
Motivation towards savings:
The objective of national savings was to create motivations towards savings among people of
Pakistan. Now it is trying well for this objective. People are concentrating toward the schemes of
national savings. National savings also, launched many schemes for the attainment of this
purpose like prize bonds, certificates etc.
Provide assistance to SBP:
The other objective was to provide assistance to stat bank of Pakistan in controlling the quantity
of money in the country. Because suppose in inflationary Conditions. SBP has to launch securities
and it feels difficulties to do so in the absence of national savings.
Establishment of a savings Banks:
The last objective was to establish the savings bank in the country, which has performed all
saving function. No doubt other commercial banks were doing and trying their best to act as
savings bank but the speed of advancement was not satisfactory and people were not considerin
them