This declining trend led to a decrease in overall sales of savings schemes by about 50% during the eight months of FY22.
Government’s net borrowing from state-sponsored savings instruments dropped in February.
From January mainly due to lower interest rates, officials said.
The statistics of the Department of National Savings (DNS) showed the net sales of savings certificates at Tk2,586 crore in January.
While the figure shrank to Tk2,522 crore in February this year.
This declining trend led to a decrease in overall sales of savings schemes by about 50% during the eight months.
Of fiscal year 2021-22 compared to the corresponding period of FY20.
The figure shows the net sales of savings schemes amounted to Tk14,689 crore in the July-February period of the current fiscal.
While the figure was Tk29,311 crore 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% of yields were slashed on almost all savings schemes on September 21, 2021.
The DNS statistics found the gross sales of savings tools worth Tk71,055 crore.
And encashment Tk56,366 crore in the eight months.
On the other hand, the yield payments during the period amounted to Tk25,533 crore.
The government has fixed the borrowing target from savings tools at Tk30,302 crore for FY22.
Meanwhile, the DNS showed the net sales of national savings tools as high as Tk41,959 crore in FY21 against a target of Tk20,000 crore.
Around 20 million investors are involved in this sector, DNS officials said.