The Central Directorate of National Saving (CDNS) has slashed profit rates on National Savings schemes, effective from November 01, 2019. According to the announcement, the rate of profit on Defense Saving Certificates has been reduced by 2.33 percent, whereas the rate of profit on Pension Behbood has been reduced by 2.28pc. The rate on regular income certificate has been also been reduced by 2.04pc. Therefore, the new profit rates of Defense Saving Certificates is 10.68pc, rate Pensioners’ Behbood Account is 12.48pc and rate on regular certificates is 10.92pc. The recent reduction in rates comes after the declining secondary market yields on long-term Pakistan Investment Bonds and Treasury-bills.