CDNS records Rs36b intake

20% rise in two months of current fiscal year.

ISLAMABAD:

Depicting an increase of 20%, the Central Directorate of National Savings (CDNS) has recorded an investment of Rs36 billion during the two months of the current fiscal year against Rs31 billion during the same period of the previous year.

CDNS spokesperson Ghafoor Baloch said the body had set an annual target of Rs220 billion for the year 2014, while fixing Rs65 billion as a separate target for prize bonds.

“In financial year 2011-12, savings of Rs187 billion were made against the target of Rs146 billion,” said Baloch. “We achieved 128% of the target that time.”

Replying to a question, Baloch said the sit-ins have created a negative effect on the national economy and the situation has halted investments in various fields.

“We have planned to computerise 80 out of the 140 branches across the country in order to facilitate customers,” he said.



“Customer complaint centres have been established in various regions of the country for facilitation.”

Baloch added that the successful launch of government’s first ever tradable bond, ‘NSB’, has strengthened the secondary market of debt securities and established a ‘Bond Management Unit’ for launching secondary market bonds.

Regarding future outlook, he said that CDNS can offer bonds/certificates through depository and stock exchanges to reinforce the secondary market debt instruments.

“A long term paper under the nomenclature of Children Protection Scheme is also under consideration,” added Baloch.

“We have also proposed launching a Shariah-compliant security in the domestic market. The proposal to launch registered prize bonds with the offer of coupons as well as prize is also under consideration.”

Published in The Express Tribune, August 30^th, 2014.

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