CDNS col­lects Rs36bn savings in 2 month

The Financial Daily - - NATIONAL -

ISLAMABAD: The Cen­tral Di­rec­torate of Na­tional Savings (CDNS) has fetched Rs.36 bil­lion savings dur­ing the first two-month of first quar­ter of cur­rent fis­cal year against Rs.31 bil­lion re­al­ized dur­ing the same pe­riod of pre­vi­ous year 2013.

The CDNS has col­lected Rs.36 bil­lion savings in month of July and Au­gust 2014 against Rs.31 bil­lion in same months of 2013, de­pict­ing an in­crease of 20%,said spokesman and pol­icy ex­pert of CDNS Ghafoor Baloch while talk­ing to APP on Fri­day. Re­ply­ing to a ques­tion,he said the CDNS set an an­nual target of Rs.220 bil­lions for the cur­rent year of 2014, while Rs.65 bil­lion sep­a­rate target also fixed for the prize bonds.

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 mil­lion and 128 per­cent target was achieved,he added. Re­ply­ing to yet an­other ques­tions, he said that sitins be­ing staged by Pak­istan Awami Tehreek (PAT) and Pak­istan Tehreek-i-In­saf (PTI) in red zone of the Fed­eral Cap­i­tal is neg­a­tively af­fect­ing the na­tional econ­omy and pre­vail­ing sit­u­a­tion halt­ing in­vest­ments in var­i­ous fields.

He said the stock ex­change wit­nessed a bear­ish trend in the cur­rent week, which also had a neg­a­tive im­pact on the econ­omy. "We have de­cided to com­put­er­ize 80 branches out of 140 across the coun­try to fa­cil­i­tate the cus­tomers," he added. He said a cus­tomer com­plaint cen­ters were es­tab­lished in var­i­ous re­gions of the coun­try to fa­cil­i­tate the cus­tomers and pro­vide them ser­vices in short time.

He added that suc­cess­ful Launch of Govern­ment's first ever listed trad­able bond "NSB" which has strength­ened the sec­ondary mar­ket of debt se­curi- ties and estab­lish­ment of "Bond Man­age­ment Unit" for man­age­ment and launch­ing of sec­ondary mar­ket bonds. Re­gard­ing the Fu­ture out­look of the CDNS, he 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. He fur­ther said that a long Term Pa­per un­der the nomen­cla­ture of Chil­dren Pro­tec­tion Scheme is also un­der con­sid­er­a­tion. Re­ply­ing to an­other ques­tion, he said that the CDNS has also pro­posed launch­ing of Shariah Com­pli­ant Se­cu­rity in do­mes­tic mar­ket as prod­ucts has great ap­petite. He said that the pro­posal to launch reg­is­tered prize bond with of­fer­ing coupon as well as prize is also un­der con­sid­er­a­tion.-APP KARACHI: Pres­i­dent An­ju­man-e-Ta­ji­ran, Haji Muham­mad Sid­dique Achakzai pre­sent­ing a shield to well-known so­cial per­son­al­ity Chair­man, Me­mon Khid­mat Fo­rum, Haji Ma­sood Parekh on his so­cial ser­vices.

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