CDNS obtains Rs 700b through fresh bonds by Dec 10

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The Central Directorate of National Savings (CDNS) on Monday obtained the target of issuing Rs 700 billion fresh bonds in the current fiscal year 2022-23 from July 01 to December 10, 2022.

The CDNS has set a reviewed saving target of Rs 1.3 trillion for the current financial year (2022-23) which will promote the savings culture in the country, the senior official of CDNS told APP.

In view of the current market trend in the country, the ambitious target has been 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 Rs 1,250 billion in savings till June 30, 2022.

For the first time in its history, CDNS crossed Rs 1,000 billion in fresh deposits and achieved the target of Rs 1,250 billion by June 30, 2022.

He said the CDNS had attained the target of issuing Rs 1,250 billion in fresh bonds from July 1, 2021 to June 30, 2022. It had set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of the previous fiscal year 2020-21 to promote savings in the country.—APP