KARACHI:
The National Savings Organisation brought several positive improvements in the disbursement of profits on different savings schemes for investors including senior citizens. Instead of waiting in long queues at the National Saving Centres to collect profits, senior citizens can easily deposit their profit cheques into their accounts through the savings account chequebook.
To make the system more useful, I would suggest that instead of depositing national savings cheques in one’s account, payable profits should be directly linked and transferred to the investor’s account on due dates. This can eliminate a step and speed up the process. Also, the present system requires the recipients to be physically present in the city. However, many people who have invested in National Savings Schemes regularly travel abroad and are away for several months. During this period, they cannot access their profits. This minimises the purpose of the scheme as people cannot use their money in case of an emergency.
On a visit to Canada, I fell ill and was required to undergo surgery. As a visitor, I was not entitled to any medical benefits and faced severe financial constraints. If my profit was linked with my account in Pakistan, I could have drawn funds through my ATM card. Thus, I request the authorities to consider my suggestion as this would facilitate many investors during their travel and draw more investments in National Savings Schemes.
Shamim Sagheer
Canada
Published in The Express Tribune, July 20th, 2022.
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