ISLAMABAD -  The Directorate of National Savings (CDNS) has achieved a net target of Rs15 billion by July 31, of current fiscal years 2019-20. The CDNS has set Rs350 billion annual net target for the year 2019-20 as compared to Rs324 billion for the previous year’s 2018-19 to enhance savings and promoting saving culture in the country, senior official of CDNS told APP. The Directorate has also revised and increased the gross target of Rs1570 billion for fiscal year 2019-20, he said. Replying to a question, he said that CDNS had collected Rs410 billion by June 30, 2019 exceeding the target of Rs 324 billion set for the year while during the preceding year of 2017-18, CDNS collected Rs155 billion. The total savings held by the CDNS stood at Rs1,150 billion by June 30, while the directorate had Rs774 billion savings by the same date, a year ago, he said. He said that due to the rationalisation of CDNS certificates’ rates, the directorate had collected more savings than expected, therefore CDNS revised its target upward from Rs224 to 324 billion for FY 2018-19. CDNS has already increased rates on various savings certificates aimed at promoting savings culture in the country. “The CDNS notified the upward revision in the profit rates for various saving certificates with effect from July 1st (2019), encouraging people to invest in various schemes of the directorate,” he said. The official was of the view that the upward revision of these certificates would generate more revenues that could be utilised as budgetary support by the government to overcome budget deficit problems.