Central Directorate Of National Savings Announced Rs. 25,000 Denomination Bonds

Central Directorate of National Savings (CDNS) has floated Rs 25

,000 prize bond from February 1, 2012 with the aim to promote public savings in the country on one side and encourage non-bank borrowings to control inflation. Director General Central Directorate of National Savings (CDNS) Zafar Shaikh told reporter Monday that there was a need for a bond with the denomination of Rs 25,000 to cater to market appetite in the country. We have bonds of almost all denominations, but there was a gap of one bond of Rs 25,000 in between Rs 15,000 and Rs 40,000, he added.

As per National Saving instructions, we encourage you to check all the security measure being published by national saving for newly announced RS. 25,000 denomination specifications before purchasing the prize bond of Rs. 25,000

Prize bond offers investment options and it is far better than Forex investment but this scheme has been ignored awfully, Recently, profit rates on five saving schemes namely Defense Saving Schemes DSS, Regular Income Certificates RIC, Behbood Saving Certificates BSC, Savings Accounts SA and Special Saving Certificates SSC have been increased by 8 to 50 basis points but Prize Bond Scheme was not given consideration at all. Tragically, the increase of profit rates on these mentioned schemes will not lessen dues burden of Rs. 150 billion or more on account of Defense Saving Certificates maturing in the near future. Prize Bonds Scheme is the only rescuer in this regard, provided and they are like baby formula. The following suggestions are duly implemented.

People double their money in business in few years. So, government should care about its investors. From my services I do not get money for children education in good institutions, costly medicines and any tourism at all. One other important consideration is security of prize bonds. It can be snatched. Government can provide token numbers for the purpose of security. We keep our prize bonds in a bank locker of Allied Bank of Pakistan main branch at Napier road, Lahore. We purchase or replace bonds from State Bank, Lahore or ABL. Sometimes we purchase bonds from any dealer shop near State Bank of Pakistan. There should be any security during transportation.

Many nobles and leaders responded to my request of prayer for our family that our family win big prize in the prize bonds scheme. They and their follower gave me message of their prayers. Even people of other religions sent me message regarding their prayers about us. These prayers did not let us win any big prize but provided us some financial resources. Noble people say that prayers have great effect however these prayers have not been proving effective for many years. You can also consider a test for the effectiveness of prayers.

by: Tahir Jamil

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