ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs.336 billion savings target during last fiscal year 2014-2015 against the revised target of Rs.329 billion.
An official of Central Directorate of National Savings (CDNS) giving breakups of set targets for coming fiscal year 2015-16 of National Savings told APP here, that “Net target for new financial year 2015-16 is Rs.302 billion and gross target would be 1043.”
He said the federal government has revised upward the profit rates on National Savings Schemes for the investment made on or after August 1.
The CDNS said that 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.
As per notification issued by the federal government the new rates for Special Savings Certificates ®/ Account, Regular Income Certificate, Defence Savings Certificates and Savings Accounts have been fixed at 7.63%, 08.52 percent, 09.15 percent and 04.75 percent respectively, he added.
The official said that new rates for Short Term Savings Certificates of three months, six months and one year have been fixed at 6.56 percent, 6.60 percent and 6.65 percent respectively.
However, the profit rate of return for specialized Savings Schemes like Bahbood Savings Certificates and Pensioners’ Benefit Account has also been revised and fixed at 11.04 percent in order to provide safety net to specialized segment of society, the CDNS said.
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.
