CDNS achieves Rs 110 billion by Dec 31

ISLAMABAD, Jan 3 (APP):The Central Directorate of National
Savings (CDNS) achieved Rs 110 billion in last months of second
quarter of current fiscal year from July 01 to December 31,
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
Tuesday.
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 and
rates to be revived in coming month of January 2017.
“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
percent, 6.36 per cent and 3.90 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 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.