ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs.336 billion savings target during current fiscal year from July 1, 2014 to June 30,2015 against the revised target of Rs.329 billion.
An official of CDNS giving breakups of set targets for coming fiscal year 2015-16 of National Savings told APP here on Thursday that "Net target for new financial year 2015-16 has been set at Rs. 302 billion and gross target at 1043 billion."
"People have shown confidence in National Saving's different schemes as in 'Behbood Saving Scheme' pensioners, widows and senior citizens benefit account now enhance from Rs.3 million to Rs.4 million," he said.
The official said "our institution believes in accountability and transparency to build the confidence of customers".
He said currently people's have shifted from short term to medium and long term investment for which CDNS gave better chance for medium and short term investment.
"People have shown confidence in National Saving, when deceptive methods and risk factors are involved in different other schemes," he said.
CDNS has launched comparatively better schemes for senior citizen and gave them higher rate, he added.
He said that this phenomena is also evident in case of investment of institutions and same as in banking sector and Treasury Bills,where T. Bills substantially reduce and Pakistan Investment Bonds (PIB) increased in long terms schemes.
Regarding the future outlook of the CDNS, he said that in order to strengthen the secondary market of debt instruments CDNS can offer Bonds and Certificates through depository as well stock exchanges.
The deliberation with stakeholders CDC and KSE has already been completed and a long Term Paper under the nomenclature of children Protection Scheme is also under consideration.
He said that the CDNS has also proposed launching of Shariah Compliant Security in domestic market as products has great appetite.
The official of the CDNS said that the proposal to launch registered prize bond with offering coupon as well as prize is also under consideration.
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