CDNS obtains fresh deposit of Rs700b in last 11 months

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Islamabad

The Central Directorate of National Savings (CDNS) has received a fresh deposit of Rs700 billion in the last 11 months from July 1, to May 31, in the current fiscal year 2020-21.

The CDNS has set Rs249 billion annual collection target collection 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 Sunday.

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 Rs 50 billion by May 31 of this fiscal year’s 2020-21 from the new registered Premium Prize Bond of Rs 40,000 and Rs25000 newly introduced by the institution.

In the last one and a half years, investors have withdrawn Rs 412 billion after the suspension of the said bond.

He said new registered Premium Prize Bonds of Rs40,000 and Rs25,000 were registered by State Bank of Pakistan (SBP) and en-cashed only by the registered financial institution under the SBP.—APP