*ISLAMABAD: The Central Directorate of National Savings (CDNS) hascollected Rs300 billion during the first nine months of the current fiscalyear.*
CDNS collection surged to 68 percent as compared to same period of lastyear’s collection of Rs110 billion.
According the an official of CDNS, the total savings held by the CDNS stoodat Rs1659 billion by March 31 while the directorate had Rs740 billion bysame date on last year.
He said, “Due to rationalization of CDNS certificates’ rates, thedirectorate is more than expected collection, therefore it will revise settarget of Rs224 billion for May 2019, upward.”
The official said that the CDNS notified upward revision in the profitrates for various saving certificates, which had been applicable fromJanuary 1, 2019.
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He further said, “The instant revision was made in the backdrop of currentmarket scenario and in accordance with the government’s policy to providemarket-based competitive rate of return to the investors of NationalSavings.”
According to a notification issued by the federal government, the new ratesfor Defence Savings Certificate, Special Saving Certificate, Regular IncomeCertificate, Savings Accounts, Shuhada Family Welfare Account had beenrevised at an average of 12.47 percent, 11.40 percent, 12 percent, 8.5percent,14.28 percent respectively, he added
