CDNS achieves Rs 92 billion target by Dec 08


ISLAMABAD, Dec 14 (APP): The Central Directorate of National
Savings (CDNS) achieved Rs 92 billion in last months of second
quarter of current fiscal year from July 1 to December 08, 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 Wednesday.
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 said.
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.