The Central Directorate of National Savings (CDNS) has achieved Rs 269 billion savings during current fiscal year from July 1, 2014 to March 31, 2015 against the target of Rs 284 billion. An official of CDNS giving break-ups of nine months of the year 2014-15 regarding achievements of the CDNS said here on Thursday that "people have shown confidence in National Saving, when deceptive methods and risk factors are involved in different areas of market for the investors."
The official, National Saving said, "Our institution believes in accountability and transparency methods to prove the confidence of customers." He said currently the peoples' trends had shifted from short-term to medium and long-term investment for which CDNS gave better chance for medium and short-term investment. The CDNS has launched comparatively better schemes for senior citizens and gave them higher rate, he added.
He added that staff strength in 1984 was 3,500, since 1984 the volume of work had been increased manifolds adding the total debt stock of NSCs was Rs 19 billions in 1984 which had been increased to Rs 2,461 billions by now with same staff strength. He said the phenomena was also evident in case of investment of institutions and as same in banking sector and Treasury Bills, where T Bills substantially reduced and Pakistan Investment Bonds (PIB) increased in long-terms schemes.
Regarding the future outlook of the CDNS, he said in order to strengthen the secondary market of debt instruments CDNS could offer Bonds/Certificates through depository as well stock exchanges. The deliberation with stakeholders ie CDC and KSE has already been completed.
He further said that a long Term Paper under the nomenclature of Children Protection Scheme was also under consideration. He said CDNS had also proposed launching of Shariah Compliant Security in domestic market as products had great appetite. The official of the CDNS said the proposal to launch registered prize bond with offering coupon as well as prize was also under consideration.
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