National Savings’ investmen records Rs 115 billion investment in first half 2009-10

[LahoreEstate]

ISLAMABAD: The National Savings’ investments were recorded at Rs 115 billion net during the first half of current financial year, showing a very positive trend as compared to the investments made during the corresponding period of last year.

The investment during July-December (2008-09) stood at Rs 47 billion as against the investments of Rs115 billion during July-December (2009-10), an official in the Central Directorate of National Savings (CDNS) told APP here on Tuesday.

“The performance of National Savings has improved, particularly during past couple of years as its investments have recorded tremendous growth,” Abdul Ghafoor Baloch, an official of CDNS said. Baloch said that the National Savings total investments during the last financial year were recorded at Rs 267 billion against the set target of Rs150 billion.

For the current financial year, the investments target of the National Savings is Rs 241 billion out of which it has already collected Rs115 billion till the end of December.

Giving estimated figures of the investments made till January, he said about 132 billion have been invested till January.

Baloch said that the National Savings aims to launch new schemes including the Sharia Complaint Paper to facilitate those who are interested in Islamic way of savings.

The savings on this assets’-based paper would be on profit-loss sharing basis and it would not include interests. “This scheme would be launched during the current year,” Ghafoor Baloch added.

The National Savings would also launch bonds/papers for overseas Pakistanis in foreign currency to facilitate Pakistanis living abroad to save their incomes adding that the project was in pipeline and under consideration and would be finalised as soon as possible. app

http://www.dailytimes.com.pk/default.asp...2010_pg5_6