The Central Directorate of National Savings (CDNS) has set a target of Rs 1.3 trillion in savings inflows for the fiscal year 2025-26.
In addition, the CDNS has set a target of Rs 50 billion for Islamic investments in the same fiscal year, which is expected to promote the growth of the Islamic economy in Pakistan, a senior CDNS official told APP on Wednesday.
The CDNS achieved a net target of Rs 255 billion for the fiscal year 2024-25, from July 1 to June 30, 2024-25, the official said. The CDNS met its annual target of Rs 106 billion for the current fiscal year, 2024-25, a move that aims to encourage a savings culture in the country.
The official further noted that National Savings had set an annual target of Rs 1.7 trillion for FY 2023-24, and the target was exceeded, reaching Rs 1.6 trillion in fresh bonds in the previous fiscal year, 2022-23. This was an increase of Rs 200 billion over the original target of Rs 1.3 trillion for FY 2021-22.
The CDNS has now revised the savings target for FY 2021-22 to Rs 1.4 trillion, which will further promote the savings culture in the country, the official added. Given the current market trends, the target is ambitious, aiming to further improve the savings culture.
In response to a question, the official also stated that the CDNS has reduced the profit rate on Defence Saving Certificates from 11.91% to 11.76%. Additionally, the profit rate on Special Saving Certificates has been lowered from 10.90% to 10.60% starting the last week of June 2025.
The official also confirmed that the profit on the Shuhada Family Welfare Account has been reduced by 20 basis points, and the rate on Islamic Savings Accounts has decreased by 59 basis points, bringing the current rate to 9.75%.
