August 15, 2022: The Central Directorate of National Savings (CDNS) on Monday achieved the target of issuing Rs100 billion fresh bonds in the first month of the current fiscal year 2022-23 from July 1st to July 31st, 2022.
The Central Directorate of National Savings (CDNS) has set a saving target of Rs1.5 trillion for the current Financial Year (2022-23) which will promote a savings culture in the country, the senior official of CDNS told APP here.
At this time, the current market trend in the country and the ambitious target was set to further improve the savings culture, he said.
Replying to a question, he said the CDNS surpassed its annual target in the previous Fiscal Year 2021-22 and set a historic record of Rs1,250bn savings till June 30, 2022.
For the first time in its history, National Savings crossed Rs1,000bnfresh deposits and achieved the target of Rs1,250bn by June 30, 2022,
The CDNS has attained the target of issuing Rs1,250bn fresh bonds in the last months of the current fiscal year 2021-22, from July 1, 2021, to June 30, 2022.
It had set an annual gross receipt target of Rs980bn from July 1 to June 30 of the previous fiscal year 2020-21 to promote savings in the country.
The senior official said the CDNS had set Rs250bn annual collection target from July 1 to June 30 for the year 2020-2021 as compared to Rs352bn for the previous year (2019-20) during the same period to enhance savings in the country.
The CDNS had set Rs352bn annual collection target for the year 2019-20 as compared to Rs350bn for the previous year (2018-19), he said.
Replying to a question, he said the National Directorate of National Savings (CDNS) had reviewed and set a target of Rs60bn in the Fiscal Year (2022-23) for Islamic investment to introduce new products in the market.
In this year 2022-23, CDNS would achieve the investment target of Rs60bn, he said.
He said that the CDNS had entered the Islamic finance market in the coming month of August 2022, and would now offer Islamic finance to its customers.
In that regard, National Savings would work on Islamic Sharia bonds and certificates to give opportunities in Islamic finance to their customers, he said.