CDNS achieves Rs 188 bln upto June 13


ISLAMABAD, June 19 (APP):Central Directorate of National
Savings (CDNS) has achieved Rs 188 billion savings till mid of last
months of final quarter of current fiscal year, from July 1 to June
13, 2016-17.
The target for the year 2016-17 was Rs 228 billion, while the
Directorate managed to achieve Rs 218 billion for the previous
fiscal year, a CDNS official told APP here on Monday.
He said the CDNS had notified similar profit rates for various
saving certificates to benefit its investors especially the widow
and pensioners, which had been unchanged from June 1, 2017.
“The consistency in previous rates 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 said.
He said as per notification issued by the federal government,
the rates for Defense Savings Certificate, Special Saving Certificate
and Account, Regular Income Certificate and Savings Accounts had
been revised upward at an average of 7.54 percent, 6.03 percent,
6.54 percent and 3.95 percent respectively.
The official said the profit rate of return for specialized
savings schemes like Bahbood Savings Certificates and Pensioners’
Benefit Account had also been revised up and fixed at 9.36 percent
to provide safety net to specialized segments of the society.
The CDNS had launched its modernization plan in collaboration
with National Institutional Facilitation Technologies (NIFT), for
facilitating the customers,he said.