ISLAMABAD: The Central Directorate of National Savings (CDNS) has mobilized Rs 317 billion savings till June 22, which is 98 per cent of the target of Rs 329 billion for the outgoing fiscal year.
The net savings target for the next financial year of 2015-16 has been fixed at Rs 302 billion, with gross target at Rs 1043 billion, said an CDNS official while talking to APP.
He said that this years senior citizens, pensioners and widows showed confidence in National Saving's schemes, particularly in "Behbood Saving Scheme" whose investment limit had been enhanced to Rs 4 million from Rs 3 million. The reason for their interest was comparatively high rate of return.
The official said that the trend this year changed to medium and long term investments than short term ones. The people invested more in CDNS long term schemes.
Similarly investments of institutions, particularly banks, increased in long term schemes such as Pakistan Investment Bonds (PIB) and reduced in treasury bills, he added.
Replying to a question regarding CDNS' future outlook, the official said that the directorate was considering to offer bonds/certificates through depository as well stock exchanges, which would help strengthen the secondary market of debt instruments.
The deliberations with stakeholders, including Central Depository Company (CDC) and Karachi Stock Exchange in this regard had already been completed, he added.
The official said that a long term paper under the nomenclature of Children Protection Scheme was also under consideration.
He said that the proposal to launching of Shariah Compliant Security was also under consideration as there was great appetite in the market for such products.
The official said that the CDNS was considering to launch registered prize bond with offering coupon.
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