ISLAMABAD: A significant IT system breakdown at the Central Directorate of National Savings (CDNS) has brought fresh investments in national savings schemes to a complete standstill. This disruption has caused severe financial losses and delayed the issuance of digital prize bonds.
The system has been down for the past ten to fifteen days, severely affecting around 3.5 million account holders, including senior citizens and pensioners. Despite ongoing efforts to restore the system, only partial recovery has been achieved so far, leaving many customers still facing difficulties.
While payments to account holders are continuing, the department’s operations remain disrupted. ATM cards are malfunctioning, the mobile app for online transactions is not functioning correctly, and biometric verification has been suspended.
The system failure has halted the opening of new accounts, the acceptance of deposits, and the purchase of savings schemes and certificates, resulting in significant losses for the government.
CDNS had also been preparing to issue digital prize bonds in denominations of Rs5,000, Rs10,000, Rs25,000, and Rs40,000, but these plans have been delayed due to the ongoing technical issues.
Officials assured that expert teams are working on a complete system restoration, with hopes for a swift resolution.
