AGL 5.75 Increased By ▲ 0.05 (0.88%)
ANL 8.85 Decreased By ▼ -0.25 (-2.75%)
AVN 79.50 Increased By ▲ 0.34 (0.43%)
BOP 5.17 Decreased By ▼ -0.04 (-0.77%)
CNERGY 4.69 Decreased By ▼ -0.04 (-0.85%)
EFERT 81.10 Decreased By ▼ -0.01 (-0.01%)
EPCL 50.99 Increased By ▲ 0.24 (0.47%)
FCCL 13.49 Decreased By ▼ -0.03 (-0.22%)
FFL 5.81 Increased By ▲ 0.05 (0.87%)
FLYNG 7.21 Decreased By ▼ -0.08 (-1.1%)
FNEL 4.80 Decreased By ▼ -0.04 (-0.83%)
GGGL 8.70 Decreased By ▼ -0.19 (-2.14%)
GGL 15.75 Decreased By ▼ -0.05 (-0.32%)
HUMNL 5.85 Increased By ▲ 0.02 (0.34%)
KEL 2.58 Decreased By ▼ -0.01 (-0.39%)
LOTCHEM 29.50 Decreased By ▼ -0.30 (-1.01%)
MLCF 25.30 Increased By ▲ 0.15 (0.6%)
OGDC 72.45 Decreased By ▼ -0.25 (-0.34%)
PAEL 15.40 Decreased By ▼ -0.07 (-0.45%)
PIBTL 5.15 Increased By ▲ 0.02 (0.39%)
PRL 16.25 Decreased By ▼ -0.25 (-1.52%)
SILK 1.07 Decreased By ▼ -0.03 (-2.73%)
TELE 9.30 Decreased By ▼ -0.25 (-2.62%)
TPL 7.35 Increased By ▲ 0.02 (0.27%)
TPLP 19.16 Decreased By ▼ -0.10 (-0.52%)
TREET 21.85 Increased By ▲ 0.01 (0.05%)
TRG 142.80 Decreased By ▼ -1.30 (-0.9%)
UNITY 17.20 Decreased By ▼ -0.32 (-1.83%)
WAVES 10.03 Increased By ▲ 0.03 (0.3%)
WTL 1.38 Increased By ▲ 0.01 (0.73%)
BR100 4,248 Decreased By -10.3 (-0.24%)
BR30 15,761 Decreased By -79.9 (-0.5%)
KSE100 42,359 Decreased By -14.9 (-0.04%)
KSE30 15,627 Decreased By -38.6 (-0.25%)
Follow us

ISLAMABAD: The Central Directorate of National Savings (CDNS) has received a fresh deposit of Rs700 billion in the last 11 months from July 1 to May 31, in the current fiscal year 2020-21.

The CDNS has set Rs 249 billion annual collection target from July 1 to June 30 for the year 2020-21 as compared to Rs 352 billion for the previous year's 2019-20 to enhance savings and promote saving culture in the country, a senior official of CDNS told APP here.

The CDNS had set Rs 352 billion annual collection target for the year 2019-20 as compared to Rs 350 billion for the previous year's 2018-19, he said.

He has received an increased investment of Rs 50 billion by May 31 of this fiscal year's 2020-21 from the new registered Premium Prize Bond of Rs 40,000 and Rs25000 newly introduced by the institution.

In the last one and a half years, investors have withdrawn Rs 412 billion after the suspension of the said bond.

He said new registered Premium Prize Bonds of Rs 40,000 and Rs 25,000 were registered by State Bank of Pakistan (SBP) and en-cashed only by the registered financial institution under the SBP.

Replying to another question, he informed, "We paid the encashment of Rs 148 billion by May 31st of this month to the investors against the suspension of prize bonds of Rs 25,000."

He said the federal government recently suspended the prize bonds of Rs 25,000 and had given a six-month deadline to investors to en-cash their total savings of Rs 160 billion.

The senior official of CDNS said National Savings has paid Rs 148 billion to their customers in the last six months and remaining 12 billion out of total Rs 160 billion would also be paid by October 30, 2021, he said.

He informed that the government has already canceled prize bonds of Rs 40,000 and CDNS repaid to the investors the encashment worth of Rs 258 billion in previous fiscal year 2019-20, he said.

He said the CDNS has opened new avenues for public and private investment to document the country's economy and ensure transparency in the financial system.

Replying to another question on current revision of CDNS certificate profit rates, he said the CDNS has maintained the same interest rate on the savings certificates investment due to the market situation and as per Pakistan Investment Bonds (PIB) policy decision.

Comments

Comments are closed.

CDNS gets fresh deposit of Rs700bn in 11 months

Intra-day update: rupee records marginal loss against US dollar

Punjab local government election to be held in April: ECP

Islamic banking crucial aspect of Pakistan's financial sector: SBP governor

Azam Nazeer Tarar takes charge as law minister again

Former China leader Jiang Zemin dead: state media

Sri Lanka’s debt to China close to 20% of public external debt

OPEC+ decision to hold virtual meeting signals little likelihood of policy change

Stomach bug sweeps through England camp on eve of Pakistan Test

PM tells Jefferies Group team: Steps taken to stabilise economy

ECC approves Kissan Package: Power tariff for tubewells reduced to Rs13 per unit