Islamabad July 11 2024: The Central Directorate of National Savings (CDNS) has realized a target of PKR 1.742 trillion in fresh bonds and 100 percent of the annual target in the last fiscal year 203-24, from July 1 to June 30th.
The National Savings has set an annual target of PKR 1.742 trillion for the year 2023-24, it is encouraging that 100 percent of the target has been achieved, the senior official of CDNS told APP here on Thursday.
The CDNS surpassed the annual target and achieved the target of PKR 1.6 trillion in fresh bonds in the fiscal year 2022-23, he said.
He said this was an PKR 200 billion additional annual target than the target of PKR 1300 billion for the previous financial year 2021-22.
The CDNS has set a reviewed saving target of PKR 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 target 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 target of PKR 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.
