ISLAMABAD
Central Directorate of National Savings (CDNS) has achieved Rs 188 billion savings till mid of last month during the final quarter of current fiscal year i.e. from July 1st to June 13th, 2016-17.
The target for the year 2016-17 was Rs 228 billion, while the Directorate had managed to achieve Rs 218 billion in the previous fiscal year, a CDNS official told APP here on Monday.
He said that the CDNS had notified similar profit rates for various saving certificates to benefit its investors especially the widows and pensioners, which had remained unchanged from June 1st, 2017.
“The consistency in previous rates was upheld 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 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 per cent, 6.03 per cent, 6.54 per cent and 3.95 per cent respectively.
The official said the profit rate of return for specialized savings schemes like Bahbood Savings Certificates and Pensioners’ Benefit Account had also been revised up and fixed at 9.36 per cent to provide safety net to specialized segments of the society.
The CDNS had launched its modernization plan in collaboration with National Institutional Facilitation Technologies (NIFT), in order to relieve the customers, he said.
