ISLAMABAD: The Central Directorate of National Savings (CDNS) collected Rs33 billion against the revised target of Rs228 billion by August 30 during the current fiscal year (2016/17).

The National Savings has set the target for the year 2016/17 at Rs228 billion, a senior official of the CDNS told APP on Thursday.  He said the CDNS has reduced the interest rate on the investment bonds due to lower rates of Pakistan Investment Bond (PIB).

The CDNS interest rates are linked with the policy of PIB set by the State Bank of Pakistan, he added.  The country’s policy rates were lowest in the history and so is the interest rate of CDNS.  The CDNS is committed to facilitating the pensioners, senior citizens and widows under the pension benefits and behbood funds, according to which they get two percent above normal rates, he added.

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