Informed sources told Business Recorder here that the annual budget document is presenting a blurred picture of the overall performance of CDNS in the last fiscal year. According to annual budget document overall investment target of CDNS for 2012-13 is Rs 178.1 billion while the annual investment target of CDNS was fixed at Rs 224 billion by the government.
"Same is the case with the total investment achieved by the Directorate in 2011-12. According to the annual budget document total investment target of CDNS in 2011-12 was Rs 149.2 billion while the total investment achieved was Rs 97.6 billion but it is a fact that the Directorate achieved Rs 187.5 billion investment in last fiscal year," sources added.
Sources said, "It is true that the skyrocketing inflation may lead to the reduction in overall saving ratio in Pakistan. Due to comparatively better return rates, risk-free investment and no hidden charges, people are giving priority to saving schemes of CDNS. This can be judged from the fact that the Students' Welfare Bond launched in November has so far fetched Rs 2 billion investment in just one month." Total investment made in various savings products of the CDNS has increased from Rs 89.5 billion in 2007-08 to Rs 224 billion in 2012-13.
In 2007-08, the investment target of CDNS stood at Rs 90.5 billion while the Directorate achieved Rs 89.5 billion. In 2008-09, the Directorate achieved Rs 267 billion against the target of Rs 222 billion. During 2009-10, the investment target of CDNS was Rs 219 billion while the Directorate collected Rs 225 billion.