The Auditor General of Pakistan (AGP) has confirmed that National Savings Schemes missed the investment target by fetching Rs 1024.25 billion against the target of Rs 1025.19 billion during the financial year 2012-13. The Central Directorate of National Savings (CDNS) is an attached department of the Finance division. It is engaged in the sale of various national savings schemes through its field network having 374 National Savings Centers spread across the country.
According to the AGP report "Appropriation Accounts 2012-13" of the CDNS, the national savings schemes fetched an investment of Rs 1,024.25 billion gross and Rs 386.07 billion net against the gross and net targets of Rs 1025.19 billion and Rs 367.21 billion, respectively.
As per scheme-wise details, the savings accounts remained at the top by securing an investment of Rs 219.67 billion gross and Rs 1.09 billion net. Special savings accounts stood second by securing an investment of Rs 185.42 billion gross and Rs 150.84 billion net. The special savings certificates fetched an investment of Rs 157.99 billion gross and Rs 46.4 billion net.
Defence saving certificate fetched an investment of Rs 67.53 billion gross against the revised estimates of Rs 73.37 billion and Rs 29.89 billion net against the revised estimates of Rs 35.5 billion. Prize bonds fetched Rs 155 billion gross against the revised estimates of Rs 154.2 billion and Rs 56.18 billion net against Rs 50 billion. The average cost of collection per 100 rupees of gross investment has increased through the field network of CDNS during the fiscal year 2012-13 works to Rs 0.30.
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