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CDNS receives Rs971 billion fresh deposits in FY21
July 24, 2021
ISLAMABAD: The Central Directorate of National Savings (CDNS) has received a fresh deposit of Rs971 billion during the last fiscal year 2020-21, against its set collection target of Rs250 billion for the period, a senior official of the CDNS told APP on Friday.
The CDNS sets an annual collection target to enhance savings and promote saving culture in the country. The CDNS had set Rs352 billion annual collection target for the year 2019-20 as compared to Rs350 billion for the previous year, 2018-19, he said.
The directorate received an increased investment of Rs70 billion by June 30 of this fiscal for new registered Premium Prize Bonds of Rs40,000 and Rs25,000. However, in FY2021, investors withdrew Rs881 billion after the suspension of the said bond.
KARACHI: The government raised Rs569.7 billion through auction of market treasury bills on Wednesday.
The cut-off yields on both three-month and 6-month papers were slightly reduced by 5 and 4 basis points, respectively.
Banks participated in the auction with huge liquidity as the total bids for three-month, six-month and 12-month reached Rs1,683.7bn while the government raised Rs569.7bn. All bids for 12-month were rejected.
The government accepted Rs94.96bn for three-month T-bills at 7.258pc against the bids of Rs625bn.
However, the government raised the highest amount of Rs474.8bn for six-month T-bills at 7.539pc against the bids of Rs920bn.
July 15, 2021
KARACHI: The government on Wednesday raised Rs551 billion through the auction of Market Treasury Bills against the target of Rs700 billion.
The cut-off yield on the three-month paper slightly fell to 7.2589 percent from 7.3091 percent.
Similarly, the yield on the six-month T-bills declined to 7.5390 percent from 7.5751 percent. All bids for the 12-month paper were rejected.
The central bank said it sold Rs93.413 billion worth of three-month paper and Rs457.6 billion of the six-month paper.
The State Bank of Pakistan is scheduled to announce its monetary policy decision this month. The SBP kept the policy rate unchanged at 7 percent in May and expected that the monetary policy would remain accommodative in the near term, and any adjustments in the policy rate to be measured and gradual to achieve mildly positive real interest rates over time.
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