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MABAD, May 27 (APP):The Central Directorate of National Savings (CDNS) has attained a t
arget of Rs1.515 trillion in fresh bonds and achieved 85 percent of the annual t
arget in the current fiscal year, from July 1 to May 26th.
The National Savings has set an annual t
arget of Rs 1.742 trillion for the year 2023-24, in which it is encouraging that 85 percent of the t
arget has been achieved, and it is hoped that National Savings will surpass its annual t
arget this FY 2023-24, the senior official of CDNS told APP on Monday.
The CDNS surpassed the annual t
arget and achieved the t
arget of Rs 1.6 trillion in fresh bonds in the current fiscal year, he said. He said this was an Rs 200 billion additional annual t
arget than the t
arget of Rs 1300 billion for the previous financial year 2021-22. The CDNS has set a reviewed saving t
arget of Rs 1.4 trillion for the financial year (2021-22) which will promote savings culture in the country,” he said. Given the current market trend in the country the ambitious t
arget had been set to improve the savings culture further, he added.
The official said that work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced. At this time Automated Teller Machine (ATM) has also been introduced in CDNS which will provide enough facilities to the users,” he added.
The official added that the directorate had set a t
arget of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds. Replying to a question; he said the CDNS aimed to introduce new dimensions in the Islamic finance sector.
Islamic finance has a very important role in the global financial sector at this time and a large part of the economy of many major countries currently includes Islamic finance,” he added.
