Fy17: CDNS collects Rs48b by Sep 30
The CDNS has notified upward revision in the profit rates
ISLAMABAD:
The Central Directorate of National Savings (CDNS) collected Rs48 billion of the target set for the financial year 2016-17 by September 30, this year. The target for the current fiscal year is set at Rs228 billion as the Directorate was able to achieve the target of Rs218 billion set for the previous fiscal year, said a senior CDNS official. The CDNS has notified upward revision in the profit rates for various saving certificates, applicable from October 3, 2016. As per the notification issued by the federal government, the new rates for Defense Savings Certificate, Special Saving Certificate, Regular Income Certificate and Savings Accounts have been revised upward at an average of 7.44%, 5.8%, 6.36% and 3.90%, respectively.
Published in The Express Tribune, October 7th, 2016.
The Central Directorate of National Savings (CDNS) collected Rs48 billion of the target set for the financial year 2016-17 by September 30, this year. The target for the current fiscal year is set at Rs228 billion as the Directorate was able to achieve the target of Rs218 billion set for the previous fiscal year, said a senior CDNS official. The CDNS has notified upward revision in the profit rates for various saving certificates, applicable from October 3, 2016. As per the notification issued by the federal government, the new rates for Defense Savings Certificate, Special Saving Certificate, Regular Income Certificate and Savings Accounts have been revised upward at an average of 7.44%, 5.8%, 6.36% and 3.90%, respectively.
Published in The Express Tribune, October 7th, 2016.