ISLAMABAD: The Central Directorate of National Savings (CDNS) has collected Rs135 billion savings as against the proportionate target of Rs151 billion till December 31, during the current fiscal year (2015-16).
An official of the CDNS told APP here on Friday, the estimated target of the national savings for the year 2015-16 has been set for Rs302bn.
Likewise, he said during the first quarter of current fiscal year, the CDNC collected Rs82bn as against the proportionate target of Rs66bn.
The official said that the federal government has also started making adjustments in the profit rates on new saving schemes from Dec 1, 2015.
The Central Directorate of National Savings (CDNS) investment bonds profit rates has determined by Pakistan Investment Board (PIB), which was linked according to the policy rates of State Bank of Pakistan (SBP).
He said 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, Regular Income Certificates, Defence Savings Certificates and Savings Accounts have been fixed at average 6.60 percent, 7.536 percent, 8.68 percent and 4.15 percent respectively.
The official said the profit rate of return for specialized Savings Schemes like Bahbood Savings Certificates and Pensioner's Benefit Account has also been revised and fixed at 10.56 percent in order to provide safety net to specialized segment of the society, the official said.
He said the proposal to launch registered prize bonds with offering coupon as well as prize is also under consideration.
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