CDNS achieved Rs 81 billion target by Nov 21

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CDNS achieved Rs 81 billion target by Nov 21

ISLAMABAD, Nov 28 (APP): The Central Directorate of National
Savings (CDNS) achieves Rs 81 billion in mid of second quarter of
current fiscal year from July 1 to November 21 2016-17.
The target for the year 2016-17 was set at Rs 228 billion as
the directorate was able to achieve the target of Rs 218 billion for
the previous fiscal year, a senior CDNS official said here on
Monday.

The Central Directorate of National Savings (CDNS) has
notified upward revision in the profit rates for various saving
certificates which has been applicable from October 3, 2016.
“The instant revision was made in the backdrop of current
market scenario and in accordance with the government’s policy to
provide market based competitive rate of return to the investors of
National Savings”, he added.

He said as per notification issued by the federal government,
the new rates for Defense Savings Certificate, Special Saving
Certificate, Regular Income Certificate, Savings Accounts,
have been revised upward at an average of 7.44 per cent, 5.8 per
cent,6.36 per cent and 3.90 per cent respectively.

The official said the profit rate of return for specialized
Savings Schemes like Bahbood Savings Certificates and
Pensioners’Benefit Account has also been revised up and fixed at
9.36 per cent in order to provide safety net to specialized segments
of the society.

He said that the proposal to launch registered prize bonds
which offer coupons as well as prizes is also under consideration.