ISLAMABAD: Central Directorate of National Savings (CDNS) realised target of issuing Rs 760 billion in fresh bonds in current fiscal year 2022-23 from July 1 to January 25, 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”, senior CDNS official told APP. 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.

He said CDNS had accomplished target of issuing Rs 1,250 billion in fresh bonds from July 1, 2021, to June 30, 2022. It had set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of previous financial year 2020-21 to promote savings in country.

Replying to another query, he said CDNS had reviewed and set target of Rs 60 billion in fiscal year (2022-23) for Islamic investment to introduce new products in market. In current financial year, CDNS would achieve investment target of Rs 60 billion, he maintained.

Published in The Daily National Courier, January, 31 2023

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