Introduction to National Savings 2025
National Savings, as it stands today, is one of the ancient institutions in the country with a legacy of more than 140 years that came into existence with the promulgation of the Government Savings Bank Act in 1873. During World Wars I and II, the British Government used this channel to raise funds to meet war-related expenditures.
Given the effectiveness and net benefits of these initiatives, the idea of institutionalizing the savings culture was materialized by setting up a National Savings Bureau (NSB) in 1943-44 as an attached department of the undivided Government of India.
Since acquiring independence in 1947, this organization has remained operational in Pakistan in various forms.
The Bureau was renamed as Central Directorate of National Savings (CDNS) in 1953, with its functions and responsibilities in line with the NSB.
Turning Point for National Savings
In September 1960, it was decided to rejuvenate the structure of CDNS by declaring the status of an Attached Department of the Ministry of Finance with the powers to formulate policies and execute various National Savings Schemes (NSS).
These continuous advancements made it essential for the Government to reposition the CDNS as a Technical Department and confer all the Head of the Department powers to the Director-General (D.G.) working in BPS-21.
The year 1972 came as a turning point in the long journey of National Savings, whereby the organization was made responsible for all policy matters and execution of various NSS.
However, the operations of National Savings before December 1971 were limited to publicity and promotion of the investment schemes it offered.
Regional Directorates of National Savings
So far, CDNS has remained successful in promoting financial savings in the economy and has also generated requisite funds for the Government to finance the budgetary deficit and infrastructure projects.
As a custodian of the nation’s savings, the National Savings is the most significant investment and financial institution in Pakistan, with a portfolio of over Rs. 3.4 trillion and more than 04 million valued investors are being served through an extensive network of 376 branches nationwide controlled by 12 Regional Directorates of National Savings (RDNS).
Official links to National Savings
Details | Resources |
---|---|
Official Website | http://savings.gov.pk |
Call Centre | 051-9226635, 051-9215741 |
CDNS | 051-9215743, 051-9215748 |
Complaints Resolution Cell (CRC) | 051-9215747 |
Telephone# | 051-111-267-268 |
Fax | 051-9215761 |
[email protected] |