National Savings collected Rs 131 bln till Dec 28

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ISLAMABAD, Jan 1 (APP): The Central Directorate of National
Savings (CDNS) has collected Rs 131 billion as against the
proportionate target of Rs 151 billion till December 28, during the current fiscal year (2015-16).
An official of the CDNS told APP here on Friday, the estimated target of the national savings for the year 2015-16 has been set for Rs 302 bln.
Likewise, he said during the first quarter of current fiscal
year, the CDNC collected Rs 82 bln as against the proportionate target of Rs 66 bln.

The official said that the federal government has also started
making adjustments in the profit rates on new saving schemes from Dec 1, 2015.
He said 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.
As per notification issued by the federal government, the
new rates for Special Savings Certificates, Regular Income
Certificates, Defence Savings Certificates and Savings Accounts have been fixed at average 6.60 percent, 7.536 percent, 8.68 percent and 4.15 percent 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 and fixed at 10.56 percent in order to provide safety net to specialized segment of the society, the official said.
He said the proposal to launch registered prize bonds with
offering coupon as well as prize is also under consideration.