The government has formally transferred the business operations of the Central Directorate of National Savings (CDNS) from the Budget Wing to the Debt Management Office (DMO) under the Finance Division, with immediate effect.
The implementation of the decision will apply from last month, according to a notification issued by the Ministry of Finance.
Previously, CDNS operated under the Budget Wing of the Finance Ministry. Under the new arrangement, its policy, operational, and administrative functions have been placed under the Debt Management Office.
The decision was taken on the recommendations of a committee formed by the Finance Minister and headed by the Advisor to the Finance Minister on Debt, which reviewed the overall operations of CDNS.
According to the Ministry of Finance, the restructuring aims to improve the efficiency and effectiveness of the National Savings system.
The Budget Wing is primarily responsible for preparing the annual federal budget and managing expenditures, while the Debt Management Office handles the management of government debt.
Through National Savings schemes, the government mobilizes public savings, collecting funds via various investment and savings instruments.
The notification states that the change has been approved by the Finance Secretary, and relevant sections may update job descriptions in consultation with concerned departments.
