Daily Times
June 6, 2021
ISLAMABAD: The Central Directorate of National Savings (CDNS) has received a fresh deposit of Rs700 billion in the last 11 months from July 1 to May 31, in the current fiscal year 2020-21.
The CDNS has set Rs249 billion annual collection target collection from July 1 to June 30 for the year 2020-21 as compared to Rs352 billion for the previous year’s 2019-20 to enhance savings and promote saving culture in the country, a senior official of CDNS told APP here. The CDNS had set Rs352 billion annual collection target for the year 2019-20 as compared to Rs350 billion for the previous year’s 2018-19, he said. He has received an increased investment of Rs 50 billion by May 31 of this fiscal year’s 2020-21 from the new registered Premium Prize Bond of Rs 40,000 and Rs25000 newly introduced by the institution. In the last one and a half years, investors have withdrawn Rs 412 billion after the suspension of the said bond.
KARACHI: The government’s borrowing requirements from the banking system are likely to increase in the next fiscal year due to an expected surge in the budget deficit amid higher spending to.