ISLAMABAD: The Central Directorate of National Savings (CDNS) has saved the hefty amount of Rs201 billion during the first seven months of current financial year against the target of Rs153b.
According to a senior official of CDNS, the amount was Rs98b more than the collection during the same period of last year. He said the assets of CDNS have also crossed Rs2.6 trillion, 26 per cent of the total national savings. He said the CDNA to initiate the collaboration with National Institute of Finance and Technology (NIFT) to provide facility to customers for clearance of cross checks in National Bank of Pakistan (NBP).
Similarly, new rates for special saving certificates (SSC) would be 9.87pc, regular income certificates (RIC) 10.15pc, behbood certificates/pensioners accounts (BSC) 12.72pc and defence saving certificates (for 10 years) 11.08 percent a year.
“The performance of National Savings has improved, particularly during past couple of years as its investments have recorded tremendous growth,” the official said.
The government, he said, has taken about 27 percent of its non-inflationary loans from the CDNS to meet its development and budget expenditures. The CDNS has also introduced different savings schemes to generate revenue through national savings.
Answering a question, he said the project of linking all the 371 National Savings Centres through online system would be completed in three to four years. The PC-1 of the project had been approved by the government and work was in progress, he added.
