ISLAMABAD: State Bank has stated that attractive schemes are needed to promote saving culture in the country.
The supreme bank stated that in order to attract people to open accounts in different banks, new saving schemes are needed to be introduced.
According to a report issued by the bank, Pakistan is lagging behind India, Sri Lanka and Bangladesh in saving structure as ratio has dropped by five percent since 2006. According to statistics in 2006, the ratio of total production to savings was 15 percent.
Report states that the people would prefer to save money in bank accounts then buy gold if attractive schemes are offered.
The bank cited government loans a big hindrance in the process.