Islamabad:
The new investments in national savings schemes have been completely stopped due to an important breakdown in the IT system of the Central National Savings Directorate (CDN). This breakdown has caused billions of rupees in losses to the treasure and the delayed broadcast of digital awards.
According to the sources, the department’s IT system has fallen during the last ten to fifteen days, creating serious difficulties for almost 3.5 million holders of accounts, including older people and retired pensioners.
The authorities said that efforts are being made to restore the system, which has only partially revived so far, leaving customers who still face problems.
Payments are being made to account holders, but normal operations remain interrupted.
The sources revealed that due to the blockade, the ATM cards are badly working, the mobile application for online transactions does not work properly, and the biometric verification has been suspended.
As a result, new accounts cannot be opened; Deposits cannot be made and savings or certified schemes are not purchased. This detention has led to significant losses for the government.
The sources added that the department had ended the preparations for the issuance of digital awards bonds in denominations of RS5,000, RS10,000, RS25,000 and RS40,000. However, the launch has been delayed due to the fault of the IT system.
CDNS officials assured that expert teams are working to completely restore the system. They expressed the hope that the system would be in operation again.
