By Ali Imran
ISLAMABAD: Central Directorate of National Savings (CDNS) has received Rs 31 billion through the new launches schemes investments by March 5, from registered Premium Prize Bonds of Rs 40,000 and Rs 25000 introduced by the institution.
The CDNS has introduced the new registered Premium Prize Bonds after the termination of both major Prize bonds of Rs 40,000 and Rs 25000. This initiative documentation of the country’s economy, senior official of CDNS told media here on Monday.
New registered Premium Prize Bonds of Rs 40,000 and Rs 25000 were registered by State Bank of Pakistan and en-cashed only by the registered financial institution under the SBP, he said. Replying to the question, he said CDNS has opened new avenues for public and private investment to document the country’s economy and ensure transparency in the financial system.
While replying to another question, he informed, “We paid the encashment of Rs 116 billion by March 1st 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 116 billion to their customers in the last three months and remaining 45 billion out of total Rs 160 billion would also be paid by May 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 FY 2019-20, he said.
Replying to another question, he said CDNS has reached a fresh deposit of Rs 540 billion during the last seven months in the current Fiscal Year 2020-21. The CDNS had compensated an amount of Rs 258 billion to its investors after the termination of major prize bonds of Rs 40,000, he said. CDNS has set Rs 249b annual collection target collection from July 1 to February 28 for the year 2020-21 as compared to Rs 352b for the previous year’s 2019-20 to enhance savings.
