The Central Directorate of National Savings (CDNS) has successfully reached a milestone of Rs 150 billion in fresh bonds, achieving 10.5 percent of its annual target within the first month and a half of the current fiscal year. From July 1 to August 15, 2024, CDNS has shown a strong performance, reflecting its ongoing efforts to promote a savings culture across the country.
For the Fiscal Year 2024-25, CDNS has set an ambitious annual target of Rs 1,650 billion. This goal is aimed at further embedding the habit of savings within the population, contributing to financial stability and growth. A senior official from CDNS confirmed this progress, emphasizing the importance of these targets in fostering economic resilience.
In addition to conventional savings, CDNS has also set a target of Rs 170 billion for investment in Islamic finance for the current fiscal year. This move is expected to drive growth in the Islamic economy, offering more inclusive financial solutions that cater to diverse segments of the population.
Reflecting on past achievements, the official noted that CDNS surpassed its previous annual target by a significant margin. In the last fiscal year 2023-24, CDNS realized a remarkable Rs 1.742 trillion in fresh bonds, exceeding its original goal. This success was built on the momentum from the previous year, 2022-23, when CDNS also surpassed its target by achieving Rs 1.6 trillion in fresh bonds.
The consistent overachievement of targets underscores CDNS’s pivotal role in promoting national savings and contributing to the country’s economic growth. The strong start in the current fiscal year signals a promising trajectory towards meeting and potentially exceeding the ambitious targets set for 2024-25.