ISLAMABAD: The Central Directorate of National Savings has set a target of 1743 billion rupees for the ongoing Financial Year 2023-24 to promote the saving culture in Pakistan.
This is 443 billion rupees, additional than the target of 1300 billion rupees for the previous fiscal year 2022-23, according to a top official of CDNS.
The official said that the CDNS achieved the target of issuing 1.48 trillion rupees in fresh bonds in the current financial year (2022-23).
Target to Promote Savings Culture
He added that the CDNS has set a reviewed saving target of 1.3 trillion rupees for the current fiscal year, which would promote the savings culture in Pakistan.
He said the CDNS has set a target of 75 billion rupees in the Islamic fiscal year 2023-24. The objective was to bring new dimensions to the Islamic finance sector.
The official said that CDNS had reviewed and set a target of 60 billion rupees in the financial year (2022-23) for Islamic investment to bring new products to the market.
He said that Islamic finance has a very important role in the world financial sector at this time, and a major part of the economy of many big countries currently includes Islamic finance.
He emphasized that work on Islamic finance is still required in the country.
He said that at present, work is underway on institutional reforms in CDNS, and innovations and new reforms are being introduced.
