Central Directorate of National Savings (CDNS) has achieved Rs 161b savings till last week of the third quarter of the current fiscal year, from July 1 to March 8, 2016-17.
The target for the year 2016-17 was Rs 228b, while the directorate managed to achieve Rs 218b for the previous fiscal year, a CDNS official Monday said.
He said the CDNS had notified upward revision in the profit rates for various saving certificates to benefit its investors especially the widow and pensioners, which had been applicable from February 1, 2017.
“The instant revision was made in the backdrop of current market scenario and in accordance with government policy to provide a market-based competitive rate of return to the investors of National Savings”, he said.
He said as per the notification issued by the federal government, the new 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 that the profit rate of return for specialised savings schemes like Bahbood Savings Certificates and Pensioners’ Benefit Account had also been revised upwards and fixed at 9.36 pc to provide a safety net to specialised 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.
