CDNS sets gross annual target of Rs980bn for FY22

News Image

By MG News | August 04, 2021 at 03:02 PM GMT+05:00

0:00

August 04, 2021: The Central Director of National Savings (CDNS) has set an annual gross receipt target of Rs980 billion from July 1 to June 30th of the current Fiscal year 2021-22 to promote the culture of saving in the country.

The Central CDNS has already received a fresh deposit of Rs972 billion from July 1 to 30 June, in the last fiscal year 2020-21.

The CDNS has set Rs250 billion annual collection target from July 1 to June 30 for the year 2020-21 as compared to Rs352 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 on Tuesday.

The CDNS had set Rs352 billion annual collection target for the year 2019-20 as compared to Rs350 billion for the previous year’s 2018-19, he said.

He has received an increased investment of Rs70 billion by June 30 of this fiscal year's 2020-21 from the newly registered Premium Prize Bond of Rs40,000 and Rs25000 newly introduced by the institution.

In the last year of 2020-21, investors have withdrawn Rs881 billion after the suspension of the said bond.

He said new registered Premium Prize Bonds of Rs40,000 and Rs25,000 were registered by the 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 Rs155 billion by June 30th of this month to the investors against the suspension of prize bonds of Rs25,000."

He said the federal government recently suspended the prize bonds of Rs25,000 and had given a six-month deadline to investors to en-cash their total savings of Rs160 billion.

The senior official of CDNS said National Savings has paid Rs148 billion to their customers in the last six months and the remaining 5 billion out of a total Rs160 billion would also be paid by October 30, 2021, he said.

He informed that the government has already canceled prize bonds of Rs40,000 and CDNS repaid to the investors the encashment worth of Rs258 billion in the 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 the 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.

He informed that the CDNS interest rates were linked with the policy of PIB, set by the State Bank of Pakistan (SBP).

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg