Jul-Feb: Saving reading clocks in at Rs238 billion

CDNS director general says people showing confidence.

ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs238 billion savings during fiscal year from July 1st, 2014 to February 30, 2015 against the target of Rs284 billion.

“People have shown confidence in the National Savings, when deceptive methods and risk factors are involved in different areas of the market for investors,” said Director General Waqar Ahmad while talking to the media.

He said that the current situation does not augur well for investment in property and gold and hence, people preferred investing in CDNS.

“Our institution believes in accountability and transparency methods to prove the confidence of customers.”



Ahmad said that trends have shifted from short term to medium and long term investment.

CDNS has launched comparatively better schemes for senior citizens and gave them a higher rate, he added.

Regarding the future outlook of the CDNS, Ahmad said that in order to strengthen the secondary market of debt instruments, CDNS can offer bonds/certificates through depository as well as stock exchanges.

He said that some existing instruments can also bet listed as well as transformed into a book entry form through the CDC.

He said that a long term paper under the nomenclature of Children Protection Scheme is also under consideration.

He said that the CDNS has also proposed launching of Shariah Compliant Security in the domestic market as the product is well received.

 The official of the CDNS said that the proposal to launch a registered prize bond with an offering coupon as well as a prize is also under consideration. 

Published in The Express Tribune, March  13^th,  2015.

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