ISLAMABAD: Central Directorate of National Savings (CDNS) has achieved Rs 282 billion target during current fiscal year from July 1, 2014 to May 21, 2015 against the target of Rs 284 billion.
An official of CDNS, giving breakups of these months told APP on Friday that “People have shown confidence in National Savings, when risks factors were involved in different areas of market for the investors.”
The official said that “the institution believes in the accountability and transparency to come up to the confidence of customers.”
He said that currently people’s trends have shifted from short term to medium and long term investment for which CDNS provided better option and chance.
CDNS has launched comparatively better schemes for senior citizen by offering higher rate, he added.
He said the volume of work has increased manifolds adding that the total debt stock of NSCs was Rs.19 billion in 1984 which has been increased to PKR 2,461 billion by now.
He said that this phenomenon is also evident in case of investment of institutions and as the same in banking sector where T-Bills had substantially reduced while Pakistan Investment Bonds (PIB) increased in long terms schemes.
Regarding the future outlook of the CDNS, he said that in order to strengthen the secondary market of debt instruments, CDNS can offer Bonds/Certificates through depository as well stock exchanges.
The deliberation with stakeholders i.e. CDC and KSE has already been completed.
He further said that a long Term Paper under the nomenclature of Children Protection Scheme was also under consideration.
He said that the CDNS has also proposed launching of Shariah Compliant Security in domestic market as products had great demand.
The official of the CDNS said that the proposal to launch registered prize bond with offering coupon as well as prize is also under consideration.
