, Oct. 15 -- The government is moving to significantly curb its reliance on borrowing through National Savings Certificates (NSCs), opting instead for the lower-cost funds available via Treasury Bills and Bonds (TBBs).

In a budget review file of the Ministry of Finance, the Ministry has recently given this instruction to the authority of the Department of National Savings, an official of the Ministry of Finance confirmed it, UNB.

As part of this strategic shift, the Ministry of Finance has decided to further reduce the interest rates on NSCs starting in January, which could see the highest rate in this sector drop close to 10 percent early next year.

Experts suggest that while NSCs are a primary domestic source for financing the budget...