ISLAMABAD: Central Directorate of National Savings (CDNS) achieved target of issuing Rs 740 billion in fresh bonds in current fiscal year 2022-23 from July 1 to January 8, 2023.

CDNS has set reviewed saving target of Rs 1.3 trillion for current financial year (2022-23) which will “Promote savings culture in country”, a senior CDNS official.

In view of current market trend in country, ambitious target had been set to further improve savings culture, he said. Responding to question, he said CDNS surpassed its annual target in previous fiscal year 2021-22 and set historic record of Rs 1,250 billion in savings till June 30, 2022. For first time in its history, CDNS crossed Rs 1,000 billion in fresh deposits and achieved target of Rs 1,250 billion by June 30, 2022.

Official said CDNS had set Rs 250 billion annual collection target from July 1 to June 30 for year 2020-2021 as compared to Rs 352 billion during same period for previous year (2019-20) to enhance savings in country. In current financial year, CDNS would achieve investment target of Rs 60 billion, he maintained. CDNS entered Islamic finance market in August 2022 and was offering Islamic finance to its customers.

Published in The Daily National Courier, January, 11 2023

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