The Central Directorate of National Savings (CDNS) has collected an amount of Rs60 billion during the first quarter of the current fiscal year against Rs44 billion during the same period of previous year.
The CDNS collected Rs36 billion in July and August this year against Rs31 billion in same months of 2013, depicting an increase of 20%, said CDNS spokesman and policy expert Ghafoor Baloch on Thursday.
Replying to a question, he said the CDNS set a Rs220-billion annual target for 2014, while Rs65 billion was set as a separate target for prize bonds.
Similarly during the financial year 2011-12, an amount of Rs187,685 million was saved against the target of Rs146,000 million, he added.
“We have decided to computerise 80 branches out of 140 across the country to facilitate the customers,” he added.
Replying to another question, he said a customer complaint centre was established to facilitate the customers and provide them services at a quicker pace
He added that the successful launch of the government’s first ever listed tradable bond ‘National Savings Bond’ has strengthened the secondary market of debt securities together with the establishment of ‘Bond Management Unit’ for management and launching of secondary market bonds.
Regarding the future outlook of the CDNS, he said that in order to strengthen the secondary market of debt instruments, CDNS can offer bonds/certificates through depository as well stock exchanges.
He further said that a long-term paper under the nomenclature of Children Protection Scheme is also under consideration.
Meanwhile, he was of the view that the ongoing sit-ins staged by Pakistan Awami Tehreek (PAT) and Pakistan Tehreek-e-Insaf (PTI) in the red zone of the federal capital have adversely affected the economy, halting investment in various sectors. He added that the stock exchange has witnessed a volatile month, blaming the uncertain political situation for what he called a bearish trend.
Published in The Express Tribune, October 3rd, 2014.
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National Savings is one of the most inefficient organization of this country. All you need is to go inside one of its center in a small city, and you can see for yourself. It seems no one is in-charge of NS. Untrained & rude staff, low staff count, no bathrooms for pensioners, no lights, no fans/ air conditioning, no cold drinking water and not enough seating area. What happened to the ATM installations (in the centers) they have promised? They should open more centers in high deposit cities (Jhelum, Kharian, Sarai-Alamgir, Gujrat etc) to lower the pressure on the existing centers.