CDNS Collects Rs 70 Billion By Nov, 3
Fahad Shabbir (@FahadShabbir) Published November 07, 2016 | 03:05 PM
ISLAMABAD, Nov 7 (UrduPoint / Pakistan Point News - 07th Nov, 2016 ) : The Central Directorate of National Savings (CDNS) collected Rs 70 billion set for the financial year 2016-17 by November, 3, this year.
The target for the year 2016-17 was set at Rs 228 billion as the Directorate was able to achieve the target of Rs 218 billion for the previous fiscal year, said a senior CDNS official here on Monday.
The Central Directorate of National Savings (CDNS) has notified upward revision in the profit rates for various saving certificates which has been applicable from October 3, 2016. "The instant revision was made in the backdrop of current market scenario and in accordance with the government's policy to provide market based competitive rate of return to the investors of National Savings", he added.
He said as per notification issued by the Federal government,the new rates for Defense Savings Certificate, Special Saving Certificate, Regular Income Certificate, Savings Accounts, have been revised upward at an average of 7.44 percent, 5.8 percent, 6.36 percent and 3.90 percent respectively.
The official said the profit rate of return for specialized Savings Schemes like Bahbood Savings Certificates and Pensioners'Benefit Account has also been revised up and fixed at 9.36 percent in order to provide safety net to specialized segments of the society.
He said that the proposal to launch registered prize bonds which offer coupons as well as prizes is also under consideration.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
More Stories From Pakistan
-
15 female teachers injured in road accident
21 minutes ago -
Pakistan, UK discuss collaboration in education sector
9 hours ago -
PMD forecast rain-windstorm/thunderstorm for various parts of country
10 hours ago -
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
10 hours ago -
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
10 hours ago -
Earthquake jolts Karachi
10 hours ago
-
Sindh minister orders operation after attack on police in Ghotki
10 hours ago -
Police book youngster for abusing student for one year
10 hours ago -
Police arrest 23 suspects, recover stolen money, phones
10 hours ago -
Colorful cultural festival concludes at NUML
10 hours ago -
Immunization awareness week kicks off in Balochistan
10 hours ago -
Ministers visit Aziz Bhatti Shaheed Hospital following roof collapse incident
11 hours ago