By Asad Cheema
ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved collection net target of Rs 10 billion by of fiscal year 2020-21.
The CDNS has set Rs 249 billion annual collection target for the year 2020-21 as compared to Rs 352 billion for the previous year’s 2019-20 to enhance savings and promoting saving culture in the country, senior official of CDNS stated here on Wednesday.
The CDNS has 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. The directorate has also revised and increased the gross target of Rs1570 billion for the fiscal year 2019-20, he said.
Replying to a question on current revision of CDNS certificate profit rates applicable from June 02, 2020, he said CDNS has reduced the interest rate by 1 percent on the savings certificates investment due to lower rates of Pakistan Investment Bonds (PIB). He informed that the CDNS interest rates are linked with the policy of PIB, set by State Bank of Pakistan (SBP).
