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CDNS mobilised Rs 386 billion savings during a year
 
 
 
CDNS mobilised Rs 386 billion savings during a year

ISLAMABAD - The Central Directorate of National Savings (CDNS) had mobilized Rs 386 billion savings during July 12, 2012 to June 30, 2013 against the target of Rs 224 billion. An official of CDNS giving breakups of five years achievements of the Central Directorate of National Savings told APP that during financial year 2007-08 Rs .89,460.81million savings were made against the target of Rs 90,570.00 million achieving a target of 99 per cent. Similarly during the financial year 2008-09 Rs.267,220.71 millionsavings were made against the target ofRs.222,623.54 million achieving 120 per cent target. Likewise during 2009-10 the CDNS made a saving of Rs.225,714.46 million against the target of Rs.219,820.00 million Rs.102 per cent.
The CDNS during the financial year 2010-11 made a saving of Rs.234,943.98 millionagainst the target ofRs.223,100.00 million achieving a target of Rs.105% per cent. Similarly during the financial year 2011-12 a saving of Rs.187,685.00 million were made against the target of Rs.146,000.00 millionand 128 per cent target was achieved. The official further said that total tax collected during last 3 years (2010 to 2013) was Rs.21 Billion.
About further achievements of the CDNS During Last 5 Years, he said that the National Saving Scheme (NSS) product basket has been enhanced by induction of 5 new schemes.
He added that successful Launch of Government’s first ever listedtradable bond “NSB” which has strengthened the secondary market of debt securities and establishment of “Bond Management Unit” for management and launching of secondary market bonds. He further said that issuance of Rs 25,000 Prize Bond, within thirty days Rs 20 billion were invested by public in this bond against the target of Rs 5 billion.
He said that Short Term Certificates was launched from July 1,2012 and to promote the saving habit among young generation Rs 100 Student Welfare Prize Bond had been launched from November 16, 2012. 0The official said that the CDNS computerized 108 National Saving Offices including 89 pilot NSCs. He added that due to IT programmed the withholding tax raised from Rs 2.23 billion in 2009 to Rs 7.29 billion in 2012.
He added that Staff strength in 1984 was 3500, since 1984 whereas the volume of work has been increased many folds adding that the total debt stock of NSCs was Rs.19 billions in 1984 which has been increased to PKR 2,461 billions by now with same staff strength.
Regarding the Future outlook of the CDNS , the official said that in order to strengthen the secondary market of debt instruments CDNS can offer Bonds/Certificates through depository as well stock exchanges.
 He added that some existing instruments can also be got listed as well as transformed into book entry form through CDC.
The deliberation with stakeholders i.e. CDC and KSE has already been completed. He further 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 domestic market as products has great appetite. The official of the CDNS said that the proposal to launch registered prize bond with offering coupon as well as prize is also under consideration. He added that in order to provide remittance services to NRPs the CDNS has offered the services of paying agent through Western Union.
He added that in online web-based investment portal can be installed enabling NRPS to make investment from abroad in rupee denominated bonds.

 
 
on epaper page 8
 
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