ISLAMABAD: Central Directorate of National Savings (CDNS) collected Rs 201 billion against the proportionate target of Rs 253 billion by May 5, during the current fiscal year 2015-16.
The official said that the estimated target of the national savings for the year 2015-16 had been set at Rs 304 billion. Likewise, he said during the first quarter of the current fiscal year, the CDNS collected Rs 82b against the proportionate target of Rs 66 billion.
He said the CDNS has also announced downward revision in the profit rates for various saving certificates applicable from April 1, 2016. “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,” he said.
He said as per notification issued by the federal government, the new rates for Defence Savings Certificates, Special Savings Certificates, Regular Income Certificates, Savings Accounts have been fixed revision down at an average of 7.80 per cent, 6.07 per cent, 6.632 per cent and 4 per cent respectively.
The official said the profit rate of return for specialised Savings Schemes like Bahbood Savings Certificates and Pensioners’ Benefit Account has also been revised and fixed at 9.60 per cent in order to provide safety net to specialised segments of the society.
