Pensioners’ woes

Letter September 20, 2018
Look into the matter for the redressal of a 439% increase in IBT charges

JATI, DISTRICT SUJAWAL: Till July 2017, the National Bank of Pakistan used to deduct at source Rs70 on account of Inter Branch Transaction (IBT)/online charges per transaction within Sindh province (if not within the country as a whole). They have increased those charges from Rs70 to Rs377 per transaction, which becomes an increase of 439%.

In pursuance of the Pakistan Reinsurance Company Ltd letter dated 03-07-2017, my pension of Rs25,647 was to be transferred but an amount of Rs25,577 was credited to my account vide Entry No 01 in the account Statement. Thus in July, 2001, Rs25,647 – Rs25,577 = 70 rupees were deducted on account of IBT/online charges. Thereafter in terms of the letter dated 02-10-2017 issued by my ex-employer, an amount of Rs28,212 was to be transferred to my account. As against that and in fact, as per Entry No 16 in my Bank Account Statement, an amount of Rs27,835 was credited. Thus, in October 2017, Rs28,212 – Rs27,835 = Rs377 was deducted on account of IBT/online charges.

That heavy and abnormal rather unaffordable increase adversely affects the senior citizens and pensions on account of transfer of their post-retirement benefits/dues a lot. That additional burden of Rs377 per transaction multiplies in the cases of pensioners receiving other post-retirement dues also, apart from the monthly pension.

My request to those in authority and power particularly, the honourable federal minister for finance is to look into the matter for the redressal of a 439% increase in IBT charges.

Haji Muhammad Ismail Memon

Published in The Express Tribune, September 20th, 2018.

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