Daily Times

Central Directorate of National Savings (CDNS) has received an increased investment of Rs 52 billion by June 2, of this Fiscal Years 2020-21 from the registered Premium Prize Bond of Rs 40,000 and Rs 25000 recently initiated by the institution.

The newly registered Premium Prize Bonds of Rs 40,000 and Rs 25000 were registered by State Bank of Pakistan (SBP) and en-cashed only by the registered financial institution under the SBP, Senior Official of CDNS told APP here on Monday.

In the last one and a half years, investors have withdrawn Rs 588 billion after the suspension of the said bond by May 31st of current FY 2020-21, he informed. Replying to another question, he said, “We paid the encashment of Rs148 billion by May 31th of this month to the investors against the suspension of prize bonds of Rs 25,000.” He said the federal government recently suspended the prize bonds of Rs 25,000 and had given a nine-month deadline to investors to en-cash their total savings of Rs 160 billion.

The senior official of CDNS said National Savings has paid Rs 148 billion to their customers in the 5 months and remaining 12 billion out of total Rs 160 billion would also be paid by September 30, 2021, he said. He informed that the government has already canceled prize bonds of Rs 40,000 and CDNS repaid to the investors the encashment worth of Rs 258 billion in previous FY 2019-20. The senior official said CDNS has opened new avenues for public and private investment to document the country’s economy and ensure transparency in the financial system.