Akasha shafiq

INTERNSHIP REPORT ON NATIONLA SAVING CENTER

National Savings Organization:

Introduction and History

The history of National Savings Organization dates back to the year 1873 when the Government

Savings Bank Act, 1873 was promulgated. During the First World War, the British Government

introduced several Schemes for collection of funds to meet the expenditure. It was in this context

that the Post Office Cash Certificates and, during the Second World War, post Office Defense

Savings Certificated were floated. The need to setup a separate agency was felt and a national

savings Bureau was established in 1943-44 as a attached department of Ministry of Finance of

the undivided Government of India. The department was headed by National Savings

Commissioner with the status of a Joint Secretary. At that time the main functions of Savings

Department were to initiated all policy matters and issue directives for the execution of policy

matters and issue directives for execution of policy decisions of the Central Government, and to

review the Savings Schemes for time to time. Gradually, Savings Organization were established

in almost all the Provinces of the sub-continent with the objectives of popularizing the Savings

Schemes among the masses as well as to supervise, guide and control the working of authorized

agents under their jurisdiction. The local authorities appointed the agents.

They were paid commission @ 2 ½ on the investment secured by them. These authorized agents

were in those days the only agency for securing investment in terms of Saving Certificates from

the general public.

1 TheIslamia University Of Bahawalpur


In nutshell the central agency via, National Savings Bureau, Simla, was mainly concerned with

the policy and planning matters of the Saving Schemes whereas the responsibilities of execution

of various savings schemes vested with provincial authorities.

At the time of independence there was no time for any sort of innovations in the field of

administration. Thus an organization with the name of “Pakistan Savings Central Bureau” was

created and the Government of Pakistan entrusted the Savings work to it, but this Bureau had its

own peculiarities. The Pakistan Savings Central Bureau had no independent entity and was not

given the same status as enjoyed by Savings Bureau, Simla.

The head of Pakistan Savings Central Bureau was then called Central National Savings Officer, a

junior Officer of the Ministry of Finance with the status of as Under Secretary having some

auxiliary staff. In 1953, the Pakistan Savings Control Bureau was re-named as Central

Directorate of National Savings and it carried out the functions on the liens of National Savings

Bureau Simla but as a part of parcel of the Finance Division, Central Directorate of National

Savings was only responsible for publicity, and the operative agents were the provincial

Governments as well as Pakistan Post Offices. However, the entire expenditure in this regard

was borne by the Central Government. Such an arrangement created a large number of

administrative difficulties and stunted the growth of savings.

In view of these difficulties the Central Directorate of National Savings was given the status of

an Attached Department in September 1960, and was made responsible for all policy matters and

execution of various National Savings Schemes. Subsequently, it was also declared a Technical

Department by the Government. The Director General, National Savings (BPS-20) now enjoys

full powers of a Head of the Department. Till December, 1971, the National Savings

Organization functioned as a publicity Organization and its activities were merely promotional in

nature, but in early 1972, the scope of its activates was enlarged as the Central Directorate started



selling II-Rupee Prize Bonds, and subsequently engaged in the operations of other savings

schemes. This resulted in considerable expansion of the National Savings Organization.

Present status of NSC:

At present, this Organization has a total sanctioned strength of 3377 employees in various grades and its main component units are as under:

a. Central Directorate of National Savings, Islamabad.

b. Directorate of Inspection and Accounts, Islamabad.

c. Training Institute of National Savings, Islamabad along with a sub-Training Institute at Karachi.

These are 367 National Savings Canters all over Pakistan which are controlled by 12 Regional

Directorate of National Savings (RDNS).

Peshawar

Lahore

Multan

Quetta

Islamabad

Sukkur

Abbottabad

Bahawalpur

Faisalabad

Gujranwala

Hyderabad

Karachi



Organization Setup

Coprate Information

I.

Training

Institut

II.

Directorate of Insp. & Acctt

III

Regional Directorates


ORGANIZATIONALSETUP


e

Sub TINS

Zonal Insp. & Accts

Regional

Accts Offices

Karachi

PeshawarPeshawa

rAbbottabad

Peshawar

Abbottabad

IslamabadIslamaba

dGujranwala

Islamabad

Gujranwala

Lahore Lahore Faislabad Lahore Faislabad

Multan Multan Bahawalpur MultanBahawalpu

r

Gujranwala

Sukkar Hyderabad Sukkar Hyderabad

Hyderabad

karachi Quetta karachi Quetta

karachi

HIERARCY:



IN CHARGE OF SECTION IN BAHAWALPUR REGION

Director General Mr Zafar M. Sheikh

Assistant director M.Anwer Bhatti

Joint Director Sajid Mansor

Regional Account Officer Maryum Batool

Budget In charge M.Akram Hasrat

Scheme Section In charge M.Nazeer

Treasury Officer M.Iftikhar(Additional charge of Admin Officer)

National Saving Center II

I have done my internship in National Saving Center II welcome chowk Bahawalpur.I am

very thankful to the following personalities of the above mention center that they provide

me full support and knowledge about saving during my course of internship.

Ma’am Nadia Rahsheed National Saving Officer(Manager)

Mr.Muhammad Saddique Kanjo Junior National Saving officer(JNSO)

Ahmad khan Assistant National Saving officer(ANSO)

Hafiz.Muhammad Awais Deputy National Saving Officer(DNSO)



Objectives and Scope of Organization :

Following are the purposes of the national savings. Now, it is trying hard for

accomplishment of these objectives for which it was formed.

Core Objectives

o Generation of pool of funds for country

o Provide secure system of Borrowing

o Promotion of savings

o Mobilization of idle savings

o Motivation towards savings

o Provide assistance to SBP

o Establishment of a savings Banks

Formation of a savings Banks:

The last objective was to establish the savings bank in the country, which has performed all

saving function. No doubt other commercial banks were doing and trying their best to act as

savings bank but the speed of advancement was not satisfactory and people were not considering

them.



Promotion of savings:

National saving’s prime purpose was to create confidence among these people and collect their

small savings through its savings schemes.

Generation of pool of funds for country:The basic function of this organization is to generate the pool of funds from the nation by a trusted and ensured

govt. body.

Motivation towards savings:

The objective of national savings was to create motivations towards savings among people of

Pakistan. Now it is trying well for this objective. People are concentrating toward the schemes of

national savings. National savings also, launched many schemes for the attainment of this

purpose like prize bonds, certificates etc.

Mobilization of indolent savings:

Mobilization of idle savings is necessary for the economic development of any country. So

Pakistan is trying to do so through national savings, as said earlier, and to reinvest them in the

required or desired segment/sector of economy.

Provide assistance to State Bank of Pakistan:

The other objective was to provide assistance to stat bank of Pakistan in controlling the quantity

of money in the country. Because suppose in inflationary Conditions. SBP has to launch

securities and it feels difficulties to do so in the absence of national savings.



Department of Organization:


DEPARTMENTSAND THEIR WORK


There are various section which are performing in their respective field.

Administration section.

Scheme Section.

Treasury Section.

Drawing and disbursement Section.

Publicity Section.

The separate independent department of NATIONAL SAVINGS.

Regional Accounts Office.

HUMAN RESOURCE MANAGEMENT/ ADMINISTRATION SECTION

Human resource management is the great asset for any organization. This is off balance sheet

precious asset. The personal of any organization are the pillars of the success of that



organization.

The importance of human resource management keeps important place in the financial

institutions like banks and saving centers because these institutions requires great deal of

expertise from its employees.

National savings is the important financial institution under Govt. control. Due to its importance

it requires high class personal. Under this topic. We will discuss the procedure of managing the

Human Resources in National Savings. In details for the discussion of all aspect, we have

classified this topic under following such headings:

1. EMPLOYEES STATUS, DISIPLANE AND LEAVES

2. PENALTIES.

3. ALL FIELD EMPLOYEES SCALE.

4. RECRUITMENT.

5. RETIREMENT.

6. TRAINING.

7. Reward FOR MOTIVATION.

Now i discus those topic in details

1. EMPLOYEES STATUS, DISIPLANE AND LEAVES

All these are civil servants. Civil servant act 1973, an Act to regulate the appointment of person do, and the terms and conditions of service of persons in the service of Pakistan. (All central Govt. employees) apply this act. Conduct rules 1964, civil employees are bound to Govt. conduct rules. When any employ

inefficient rule may be involve corruption.

Calendar year 20 casually vacation every holiday cannot be claimed as a matter of authority



2. Penalty.

Two type of penalty:

(i) Minor penalty.

Censure mean, just tough warning

With holding, for a specific period, promotion or increments otherwise ban for

unfitness for promotion or financial advancement in accordance with rule or order

training to a service or post.

Stopped, for a specific period, at any efficiency bar in the time scale, otherwise than

for unfitness, to cross such far.

Recovery from pay of the whole or any part of any pecuniary loss cause to Govt. by

negligence or break of orders.

(ii) Major penalty.

Reduction to a lower post or time scale, or to a lower stage.

Compulsory retirement

Removal from service. (May be work other Govt. institutions).

Dismissal from service. (Not work any Govt. institute).

3:All Field employees scale

Name of Post Basic pay scale Strength

Director general 20 1

Director 19 9

Joint director 18 16

Assistant Director 17 123

National Saving (Officer) 16 400

Confident-ional officer

(Attached Director General)

16 1

Duty N.S officer 14 225

Steno grapier 15 21

Duty assistant director 14 5



Steno typists 12 85

Assistant N.S officer 11 228

Librarian 12 1

Assistant 11 13

Upper Division clerk 07 1038

Lower division Clerk 05 45

Driver 04 51

Machine Operator 03 1

Gun Man 01 1130

Total 3377

Regional directorate national saving Bahawalpur:

STATUS NAME

Joint Director Sajid Mansor

Assistant director M.Anwer Bhatti



4. Recruitment.

Recruitment is very important step in the H.R management in the financial institutions like

National saving. It requires a great deal of experience National saving was adopting two methods

for recruitment of employees up to last year.

How Recruitment Proceed.

Gunman.

Direct recruitment no promotion and qualification is primary pass. People who are related to

retire Army, Police, and any security department prefer these persons.

Driver

Direct recruitment but driving license is necessary.

Lower Division Clerk (L.D.C).

Qualification is must be metric and typing speed is 25 per second. The maximum age of person

25 years .10% promotion quota for gunman and 90% direct recruitment.

Upper Division Clerk (U.D.C).

Qualification is must be necessary inter but typing is not necessary.50% promotion quota for

(L.D.C) and 50% direct recruitment.



Deputy National savings officer.

No recruitment, 100% promotion quota.

National saving officer grade 16

50% quota of (D.N.S), and 50% direct recruitment, qualification is M.A Economics, statistics,

commerce, (2nd division at least) through PSC (public service commission).

50% reserve for promotion and 50% direct recruitment through (PSC), the qualification is must

be necessary M.A economics, statistics, commerce, (First division).

Joint director100% promotion quota.



5. Retirement

When age of any of person is completed 60 years then this person is retire the job. But if any

person wants a retirement before 60 years. If any person service is completed for 25 years they

voluntarily retire they request the institution and easily get the retirement. During job a person

may be serve ill/accident on the basis of medical ground they easily get the retirement (no age

limit in this situation). If the Government service is completed for 10 years then the person avail

all facilities .but if the Govt. service is not completed for 10 years than the person is not availing

all facilities. We can calculate the pension by this formula.

Pension = last pay down * length of the service *7/300

Length of service =date of joining years – date of retirement years.

Then the answer is the gross profit.

Pension =half the gross pension* 12* commutation factor.

Suppose the gross pension is 9000 than we calculate the net pension

Pension =4500* 12*18.3129

6. Training

Training is the process of refinement of abilities of the employees. National savings uses two

methods of training for its employees so that they can face the challenges of modern techniques.

These methods are:



Initial training

Routine training

(i) Initial Training

This method of training is used for those employees who are directly recruited in the officer of

national savings. So after selection, they are given training in the training center. National saving

has training institute in Islamabad and a sub-training institute in Karachi.

(ii)Routine training

This type of training is given to employed workers. Who are already working in national saving.

National saving offers two kinds of this training:

Training in Pakistan includes the training through regular courses, refresher courses that are of

short term in nature in the training institute at Islamabad.

The directorate of national savings also arranges training in aboard. It keeps membership of

international savings operation of ISBI in Geneva.

7. Reward for Motivation:

No doubt, National Savings is the Govt. institution it has to adopt the financial rules and

regulations of Govt. Regarding financial compensation But for the motivation of it employees, it

is giving following incentives to them along with the pay package.

(1) Advance increments are given to the able workers.

(2) Money rewards are also given due to the height of performance of worker.



Search By Region

SCHEME SECTION

National savings offers eight types of schemes.

1. Defense saving certificates.

2. Regular income certificate

3. Special saving certificates /accounts.

4. Savings Accounts.

5. Prize Bonds.

6. Bahbood Savings Certificates.

7. Pensioners Benefit Accounts.



8. Special Savings Accounts.

The function of this department is to examine and audit the reports of the all stated

schemes.

It compiles the report of each scheme of every branch of the city.

1: Daily

2: Monthly

3: Annually

Calculate and evaluate the incoming and outgoing cash of every scheme of every

branch of the city.

Function of National Savings, Treasury:

To receive cash, Cheques and prize bonds from NSCs.

To meet cash and prize bond requirement of NSCs.

To collect private and Govt. Cheques from NSCs for clearance and

deposit.

To accept RAO Cheques for payment.

To remit cash and Cheques for deposit /collection in to state bank of

Pakistan

To issue Govt. Cheques for drawing cash or for payment to third party.

To keep stock of blank deposit/savings certificates.


TREASURY SECTION


Safe custody of valuable documents or articles under the directions of

joint director.

DRAWING & DISBURSEMENT SECTION

This section is working only in the Regional Directorate of National Savings, and is controlling

all the centers of the

concerned Regional as like in Bahawalpur region this section is controlling 22 centers and

regional office. All payments, such as pay & allowances, T.A, etc. of the officers and staff in the

National Savings Organization, including contingent expenditure are made by the Regional

Accounts Officer through the respective Directorate in whose area the claim arises. This section

sanctions the expanses of all the centers including regional offices. The ministry of finance gives

funds to this section through “New Item Statement” on annual basis for the expenses of national

savings , so this section distribute the funds to centers according to their performance. The

expenses may be for the:

Purchase of durable goods as like:

Transport, Machinery and equipment Furniture and Fixtures and Others.

Repairs and Maintenance of durable goods and work:

Transport, Machinery and equipment Furniture and Fixtures and Others.

Commodities and Services as like:



Transport of goods (Freight cartage, coolly charges) P.O.L charges aero plane, Helicopter, staff

cars, Motorcycle, etc.) Conveyance charge.

Communication:

Postage and Telegraph, Telephone and Trunk call, Telex and tele-printer Courier and pilot

service.

Utilities:

1: Gas, Water, Electricity, Hot and- Cold water charges, Office Stationery,

2: Printing, Newspapers, Periodicals and books, Uniform and Liveries, Rent royalties, Rates and

Taxes.

3: This section is also dealing with the pay bills of the employees of the national savings,

various allowance are calculated by this section for the employees of the national savings as like

House Rent allowance, Conveyance allowance, Dearness allowance, washing allowance,

Overtime allowance, Medical charges and Rest and Recreational allowance. In addition to

these allowance this section is also deducting various deductions as like Benevolent fund,

General Provident Fund, Postal life insurance, income tax, Trade Tax, House building advance,

Motor Cycle advance, House Rent etc

This section is dealing with expenses of the office and employees of this department, now we are

concerned with the proper way to give connection for the bill of expenses to the employees and

offices of this department. All this procedure is done through various sorts of forms like T.R 30,

T.R 16,T.R 31, T.R 22, T.R 25< T.R 20, and pension papers etc. through these sorts of forms

have various heads of allowances and deductions of pay as like:

T.R 20

This form is used to show the traveling allowances of the gazette officers.

T.R 25



This form is also used for the traveling allowances of employees but for non-gazettes.

T.R 22

This form is also used for the non-gazetted employees in this form the allowances and

deductions are recorded.

T.R 16

This is a pay bol of the gazetted officers and shows all the allowance and deductions.

T.R 31

In this form the expenses of the officers are recorded, the expenses are taken over by the form

T.R 30.

Pension papers

This booklet is used to give the gratuity to employees on the retirement of employees.

This is the separate independent of national savings. This department does mainly the pre audit.

PUBLICITY AND STORE SECTION:

In the publicity of schemes agencies are involved, because national savings are not

paying any reward to them.

After the publicity schemes the paper owner send bill along with tear sheet to concerned

advertising agency.


PUBLICITY AND STOR SECTION


The budget for advertisement is about 15 million, (Overall Publicity).

Payment for publicity is made by cheque.

Govt. Rate for govt. institutions. Govt. commercial Rates for Banks. Govt. Rate for private Banks.

Electronic Media:

PTV.PTV WORD,

In NSC Govt. Rates are applicable. The add time in PTV is minimum 7 seconds. If in ordinary time (any time) the rate of the add (advertisement) of 7 second is

approximately 45000. But in fixed time (prime time, or specific time) its rate is extra 200%. But in news time it is 400% extra. The rate of PTV World is comparatively less then PTV.

Procedure for Selection of Advertisement Agency:

Procedures for selection of advertisement NSC do competition call.

Than distribute the schemes to those agencies for preparing campaign.

Then NSC has to select campaigns keeping in view various aspects.

Short listing .

Selection of advertising agency.

Board of selecting agency.

Fixing of date of final selection should call at least 10 agencies, than these campaigns will be

exhibited, then director of each agency will explain its campaign for removing fraud, the title of

the agency will be hidden on campaign.

More than are agency can be selected.



Transfer or sending to press paper.

Minister (issue of appointment letter).

APNS

Budget verification (advertisement, printing charges, local publicity, press & media).

Final approval from competent authority.

Selection of newspaper. (Considering holidays).

Issue of release order will send to press information department.

Instructions, about the size of the add, wording page is also given.

PID (press information department) will give a copy of its approval to NSC and other.

PROCEDURE OF FOREIGN MEDIA:

External publicity wing, we send our requirements, add, page. Size, color, length,

impotence to external publicity wing (EPW).

EPW observe and decide that either add should or not be placed in our media.

(EPW) also check that weather we have NOC or not or weather we have bill or approval

for pointing.

The separate independent department of National Savings.

Regional Accounts Office



Regional Accounts Office

As the District accounts office of any district is performing its job for the passing of the bills of

the Govt. offices, as like this the Ministry of Finance has decided to situate Accounts Offices in

the National Savings for the convenient of the employees of this organization. So every bill or

Cheque of this organization is send to Regional Accounts Office for Pre-audit. Drawing &

Disbursement section send all types of bills as like employees pay, House Rent allowance,

Medical allowance for pre-audit and clearance. So in short this office is performing the following

functions. After departmentalization of accounts the claims of pay/allowance, payments of

contingencies etc, are being honored/processed by Regional Accounts Offices attached with each

Regional Directorate of National Savings in the manner

Main functions of RAO

RAO’s established in 1978.and above separately submitted …RAO is just like cash.

1. All monthly expenditure statement is prepared by RAO.

2. All claims presented by Rdns (DDO) traveling allowance, contingencies.

3. All reconciliation with National Savings treasury.

4. Reimbursement of medical charges.

5. The RAO reconciles the amount authorized by him to be drawn from local National Savings

Treasury on monthly basis

6. The remittances into and withdrawal from Government Accounts are consolidation by the

National Savings Treasuries under the administrative control of each Directorate.

7. Every Treasury and every National Savings Center has to submit their accounts to the

respective Regional Directorate of National Savings where the same are consolidated and

Submitted to the respective regional accounts office, where the same are further consolidated

by inserting the figures of expenditure and then submitted to the Accounts General concerned.



8. All service record of officers is maintained at Regional Accounts office and provident fund

Accounts (except of Grade 1-2) are maintained and pension cases are processed by him in

respect of all officers and staff.


NATIONAL SAVING SCHMES


National Savings Schemes

1. Defense saving certificates.

2. Regular income certificates.

3. Special saving certificates.

4. Bahbood Savings Certificates.

5. Savings Accounts.

6. Special Savings Accounts



7. Pensioners Benefit Accounts.

8. Prize Bonds.


CERTFICATE

S:

1Defen


INTRODCTION:

The Government of Pakistan introduced DSC scheme in the year 1966. This is the most popular

scheme among investors. This scheme has specifically been designed to meet the future

requirements of the depositors. This is the only scheme with 10 years maturity with built in

feature of automatic reinvestment after the maturity i.e. in case any certificate is not encashed on

maturity, the balance at Credit (principal + profit) without any deduction, shall be deemed to

have been reinvested for another period of 10 years on filling in a new application form.

these Certificates are available in the following denominations


1Defense Saving Certificates:


S.No. 1. 2. 3. 4. 5. 6. 7. 8.

Rupees 500 1000 5,000 10,000 50,000 100,000 500,000 1,000,000

1. Eligibility for Purchase:

These certificates can be purchased by a single adult, a minor, two adults in their joint names

with the options of payable to the holders jointly (Joint/A ) or payable to either (Joint/B). An

adult can also purchase these certificates on behalf of a single minor, two minors jointly or

himself (herself) and a minor jointly.

2. Procedure for Purchase:

These certificates can be purchased by filling in a prescribed form (SC/I), obtainable from any

National Savings Centre (NSC), Pakistan Post Office (PPO), State Bank of Pakistan, SBP BSC

(Bank).A copy of the Computerized National Identity Card (CNIC) or in case of a foreign

national, a copy of the Passport may be attached with the application form (SC/I).

3. Investment Limit:

There is no maximum limit of investment in this scheme.

4. Encashability:

Certificates can be encashed any time after one month from the date of purchase.

5. Mode of Deposit:

These certificates can be purchased by depositing cash at the issuing offices or by presenting a

cheque. The certificates shall immediately be issued on receipts of cash. However, in case of

deposit through cheque the certificates shall be issued from the date of realization of the cheque

after receipt of the clearance advice.

Return on Defense Saving Certificate:



The return on DSC has been fixed as given in table below, for the certificates issued with effect

from 01-10-2013. The DSC purchased prior to the above said notification shall earn profit at the

rate prevailing on the date of purchase. The year wise payable amount on initial investment of

Rs.100,000 is given as under:

After completion

of years

1st year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10year

Rupees 106,000 113,000 122,000 133,000 147,000 164,000 185,000 210,000 245,000 300,000

Value oncompletionof 5 years Rs. 500 1000 5000 10,000 50,000 100,000 500,000 1,000,000 1 Year 530 1,060 5,300 10,600 53,000 106,000 530,000 1,060,0002 Years 565 1,130 5,650 11,300 56,500 113,000 565,000 1,130,000 3 Years 610 1,220 6,100 12,200 61,000 122,000 610,000 1,220,0004 Years 665 1,330 6,650 13,300 66,500 133,000 665,000 1,330,000 5 Years 735 1,470 7,350 14,700 73,500 147,000 735,000 1,470,000

D.S.Cs Purchased from 01-10-2013 (Current) @ 11.61%

PREVIOUS YEAR’s RATES OF DSC

Effective period Rate

(%p.a)

Payable Amount(Principle+ profit)on Investment of every Rs.100,000/-on completion of

From To 1st year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10year



1/07/2012 26-08-12 12.68 107,000 115,000 125,000 138,000 155,000 176,000 202,000 234,000 273,000 320,000

27/8/2012 11/10/12 11.50 107,000 115,000 124,000 135,000 148,000 165,000 187,000 215,000 251,000 297,000

12/11/12 31/12/12 11.40 106,000 113,000 121,000 131,000 144,000 161,000 182,000 208,000 242,000 285,000

1/1/2013 30/6/13 10.84 106,000 113,000 121,000 131000 144,000 160,000 180,000 205,000 238,000 280,000

1/7/2013 30/9/13 10.36 106000 113,000 121,000 130,000 140,000 153,000 170,000 192,000 224,000 268,000

Zakat: Zakat shall be deducted only once at the time of actual encashment on the value fallen due on the relevant valuation date i.e. (1st Ramadhan) and not on the continuous reinvestment after the maturity. A Zakat collection receipt duly signed by the two officers is issued in token of the deduction of the amount.

With Holding TaxExemption of deduction of Withholding tax has been withdrawn w.e.f 01-07-2013 on profit of investment upto Rs.150,000 . The profit earned on these certificates is subject of deduction of 10% withholding tax at source. The Zakat is collected at source as per rules.

Transfer of Certificates:

From one Centre to another

Certificates are transferable from one city to another by applying on the prescribed form (SC/6) obtainable from any

NSC/ SBP BSC (BANK)office and also available at the website of National Savings under the option of "Forms". The

application duly filled in along with two copies of NIC may be presented at the office of issue or at the office where

the transfer is desired. However, the certificates purchased from scheduled banks, State Bank of Pakistan, SBPBSC

(Bank), PPO and NSC can be transferred to and from the respective branches of the issuing office / agencies only.

From one person to another:

Certificates are transferable from one person to another on the expiry of non/encashability period, by applying on

the prescribed form (SC/4). In case of death of the purchaser, certificates can be transferred in the name of

nominee(s) without any fee/charges or to the legal heir(s) on furnishing among others, a succession certificate

issued by the competent court of law, along with the following: -

1. Application on the prescribed form (SC/4);

2. Death certificate of the purchase;

3. Attested photocopies of CNIC of the deceased and the nominee (s);

4. Specimen signatures of nominee (s) attested by a gazetted officer.

Pledging of Certificates:



Certificates can be pledged in favor of a gazetted government officer, Officers of the State Bank of Pakistan, Officer

of a Local Authority, or an Officer of a Government Sponsored Corporation or an officer of a scheduled bank, in his

official capacity, for the purpose of being treated as security. The value of security shall be the payable value of the

certificates including the amount of profit.

Replacement of Lost/Destroyed Or Damaged Certificates:If a certificate is lost, or destroyed, the purchaser or his nominee(s) or heir(s), as the case may be, entitled to have

duplicate certificates issued from the issuing office on completion of certain requirements which, among others,

include the following:-

i) A copy of First Information Report (FIR) or "Roznamcha" in case the value exceeds Rs.10,000.

ii) Application for the issuance of certificates clearly mentioning the circumstances leading to the

loss.

iii) Photocopies of CNIC of the purchaser(s).

iv) Deposit of prescribed fee with the issuing office.

v) Indemnity Bond on Rs.50 stamp paper (specimen obtainable from any NS Centre).

PROCEDURE OF INVESTMENT FROM ABROAD:

A nonresident Pakistani can make investment in National Savings Schemes from abroad by sending Cheque / Draft in any currency in favour of Officer In-charge of National Savings Centre along with the application form duly filled in and copies of Passport and National Identity Card. The Bank Draft got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are also payable at the same city to the National Savings Centre where the investment is intended to be made.

The investment in all the National Savings Schemes is maintained and expressed in Pak rupee only. Amount received in foreign currency is converted into Pak rupee on the prevailing exchange rate through normal banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange if so desired by the investor. For the purpose the payable amount shall be converted into the desired currency at the exchange rate prevailing at the time of conversion / payment.

How to encash Savings Certificates from abroad on the basis of power of attorney.

1. The investor(s) or nominee(s), as the case may be, living abroad shall issue a Power of Attorney, authorizing any person in Pakistan giving his / her full particulars, to collect



their cheques. The Power of Attorney so issued shall contain full particulars of the investment i.e. the amount, Registration No. and date of issue of the certificates, name of original holder or Account number and the concerned NSC (office of issue) and the specimen signatures of person(s) issuing it and shall be verified by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.

2. The Savings Certificates of any nature shall be signed on reverse by the investors or their nominee.

3. The investor(s) or Nominee(s) shall address an application to the Officer In-charge of the concerned Centre in Pakistan, stating therein, the complete particulars of the investment i.e. the amount, registration number & date of issue of certificates (BSC, RIC), name of original holder(s) and complete particulars of the Attorney, appointed to receive the payment.

4. The investor(s)/nominee(s) must send photo copies of his/her/their computerized National Identity Card(s) / Pakistan Origin Card(s) / National Identity Card for Overseas Pakistanis (NICOP), Passport and Health Insurance certificate, indicating his/her/their presence abroad duly attested by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.

5. The Attorney shall execute an indemnity Bond (on stamp paper of proper value) along with surety of an officer of BPS-17 attested by the Notary Public and countersigned by Class-1 Magistrate to the effect that he (Attorney) will deliver the cheque to the issuers of the Power of Attorney (investor or the nominee(s) and that if due to misrepresentation or concealment of facts by the executants of Power of Attorney, any claim is raised by the original investor(s) or nominee(s) the attorney and the surety shall be responsible to indemnity the Government of Pakistan.

How to get profit on Savings Certificates from abroad on the basis of power of attorney.

I. An investor can get profit of his certificates / accounts on the basis of Power of Attorney

by authorizing any person in Pakistan giving his /her full particulars, to collect the profit

in his name subject to the entire satisfaction of the Officer In-charge concerned.



II. The Power of Attorney so issued shall contain full particulars of the investment i.e. the

amount, Registration No. and date of issue of the certificates, name of original holder and

the concerned National Savings Centre and shall be verified by the 1st and 2nd Secretary

of Pakistan Embassy / Consulate General in the country of his / her residence.


2RGULAR INC


Regular Income Certificates

Keeping in view the monthly requirements of the general public, this five years' maturity scheme

was launched on 2nd February, 1993. These certificates are available in the denomination of

Rs.50,000, Rs.100,000, Rs.500,000, Rs.1,000,000, Rs.5,000,000 & Rs.10,000,000/=. Profit is

paid on monthly basis reckoned from the date of issue of certificates.

PROFIT RATE-REGULAR INCOME CERTIFICATE: (27-08-2012 to till date)

EFFECTIVE PERIOD MONTHLY POFIT ON

EACH Rs.100,000/-

Rate (p.a %)

FROM TO

27/8/2012 11/10/2012 920 11.04%

12/10/2012 31/12/2012 880 10.55%

1/1/2013 30/06/2013 864 10.36%

01/07/2013 30/09/2013 790 9.48%

01/10/2013 Till Date 935 11.22%


2RGULAR INC


Eligible for Invest

These certificates can be purchased by a single adult, a minor or two adults in their joint names

with the options of payable to the holders jointly (Joint-A ) or payable to either (Joint-B). An

adult can also purchase these certificates on behalf of a single minor, two minors jointly or

himself/herself and a minor jointly. In addition to above individual investors, the following

institutions are also allowed to invest in the scheme:

a. Registered Charities (Non-profit bodies).

b. Public Sector Enterprises excluding Banks.

c. Private Educational & Health Institutions.

d. Employees Old Age Benefit Institutions (EOBIs).

e. Private Corporate Sector registered with the SECP excluding Banks.

f. Non-Bank Financial Institutions (NBFIs) excluding Insurance Companies.

PURCHASING PROCEDURE:

These certificates can be purchased from any National Savings Centre (NSCs) or from Pakistan

Post Office (PPO) by filling in a prescribed form called SC-1, which is available at all, the

above offices of issue free of cost. A copy of the National Identity Card or in case of a foreign

national, a copy of the Passport may be attached with the application form (SC-I).

Ways of Deposit.



These certificates can be purchased by depositing cash at the issuing office or by presenting a

Cheque. The certificates shall immediately be issued on receipt of cash. However, in case of

deposit through Cheque the certificates shall be issued from the date of realization of the

Cheque after receipt of the clearance advice.

What Is The Investment Limit.

The minimum investment limit is Rs.50, 000/-, however, there is no maximum limit of

investment in this scheme.

What about Redemption.

These certificates are encashable any time subject to deduction of service charges at the

following rates:

If encashed before completion of one year from the date of issue.

@ 2.00% of the face value

If encashed after one year but before completion of 02 years from the date of issue.


If encashed after two years but before completion of 03 years from the date of issue.


If encashed after three years but before completion of 04 years from the date of issue.

@ 0.50%of the face value

Return On RIC:

At the prevailing rates monthly profit of Rs.935/- (excluding withholding tax) is paid on investment of each Rs.100,000/-. This way the profit rate works to 11.22% p.a. However, the


3

Special saving


facility of automatic reinvestment of profit to earn further profit is not available in this scheme.

Tax & Zakat Status.

The profit earned on these certificates is subject of deduction of 10% withholding tax at

source. However, the investment made in this scheme is exempt from collection of Zakat.


3

Special saving INTERNSHIP REPORT ON NATIONLA SAVING CENTER

SPECIAL SAVINGS CERTIFICATES (REGISTERED)

INTRODUCTION OF SSCR:

This scheme being of three years maturity was introduced in February, 1990 keeping in view the periodic needs of depositors. These certificates are available in the denomination of Rs.500, 1000, 5000, 10000, 50000, 100000, 500000 and Rs.1,000,000/.Profit is paid on the completion of each period of six months..



Eligibility of Invest

The account can be opened by a single adult, a minor, two adults in their joint names with the

options of payable to the holders jointly (Joint-A ) or payable to either (Joint-B). An adult can

also invest in these account on behalf of a single minor, two minors jointly or himself/herself

and a minor jointly. In addition to above individual investors, the following institutions are also

allowed to invest in the scheme:







In case, the profit earned on these certificates is not drawn on due date, the undrawn profit will automatically stand reinvested from date of its accrual as per following tables:

S.S.Cs purchased from 01-10-2013 (Current) @ 10.60% to 11.50%

AfterCompletionOf period Rs. 500 1000 5000 10,000 50,000 100,000 500,000 1,000,0001st sixMonths 26.5 53 265 530 2,650 5,300 26,500 53,0002nd sixMonths 26.5 53 265 530 2,650 5,300 26,500 53,0003rd sixMonths 26.5 53 265 530 2,650 5,300 26,500 53,0004th sixMonths 26.5 53 265 530 2,650 5,300 26,500 53,000



5th sixMonths 26.5 53 265 530 2,650 5,300 26,500 53,0006th sixMonths 29 58 288 575 2,875 5750 28,750 57,500

PREVIOUS YEAR’S RATES:

Effective period Periodical profit on Investment of each Rs.100,000/-on completion of

From To 6 month 1 year 1 ½ year 2 year 2 1/2 year 3 year 3 1/2 year

12/9/2012 31/12/12 Rate (p.a %) 9.90 9.90 9.90 9.90 9.90 9.90 10.50Profit(PKR) 4950 4950 4950 4950 4950 4950 5250

1/1/2013 30/6/13 Rate (p.a %) 9.70 9.70 9.70 9.70 9.70 9.70 10.30

Profit(PKR) 4850 4850 4850 4850 4850 4850 51501/7/13 30/9/13 Rate (p.a %) 8.80 8.80 8.80 8.80 8.80 8.80 9.75

Profit(PKR) 4400 4400 4400 4400 4400 4400 4750

Procedure to Purchase SSCR:

After six months from purchase date the profit will be paid for Special Savings Certificate Registered (SSCR). Though it is the type of Pakistan Savings Certificate whose maturity scheme spans three years but at the same time Special Savings Certificate Registered (SSCR) caters periodic needs of its bearers. Private Educational Institutes, Security Exchange Commission of Pakistan (SECP) registered Corporate Sectors; Public Sector Enterprises etc can invest in Special Savings Certificate Registered (SSCR). During purchase a photocopy of National Identification Card (NIC) is mandatory. Encashment of Special Savings Certificate Registered (SSCR) is possible at will be profit will not be paid before completion of six months from purchased date of Special Savings Certificate Registered (SSCR).

Mode of Deposit.

The certificate can be purchased by depositing cash at the issuing office or by presenting a

cheque. The Certificate shall immediately be issued on receipts of cash. However, in case of

deposit through Cheque the certificate shall be issued from the date of realization of the

Cheque after receipt of the clearance advice.


The minimum investment limit is Rs.500/-, however, there is no maximum limit of investment

in the scheme.



What About Redemption.

These certificates are encashable at par any time after the date of purchase. However, no profit is payable if the encashment is made before completion of six months. Further, certificates purchased on or after 15-11-2010 cannot be automatically reinvested. However, other better options are available for investment in National Savings Schemes. What Will I Get As Profit. At prevailing rates, the profit is paid @ 10.60% p.a. for 1st five profits and @ 11.50% p.a. for the last profit. However, if the profit is not withdrawn on due date it will automatically stand reinvested and would be calculated for further profit on completion of the next 06 months' period.

Tax & Zakat Status.

Exemption of deduction of Withholding tax has been withdrawn w.e.f 01-07-2013 on profit of investment up to Rs.150,000/-. The profit earned on these certificates is subject of deduction of 10% withholding tax at source. Zakat is collected at source as per rules.


4

BAHB

OOD


Bahbood Savings Certificates

Keeping in view the hardships faced by the widows and senior citizens and to guard them against

the declining rate of return on National Savings Schemes, this ten years' maturity scheme was

launched by the Government on 1st July, 2003. Initially the scheme was meant for widows only,

however, the Govt. later decided to extended the facility for senior citizens aged 60 years and

above with effect from 1st January, 2004. These certificates are available in the denominations of

Rs.5,000/-, Rs.10,000/-, Rs.50,000/-, Rs.100,000/-, Rs.500,000 and Rs.1,000,000/-. Profit is paid

on monthly basis reckoned from the date of purchase of the certificates.

Profit of BSCs:

EFFECTIVE PERIOD MONTHLY POFIT ON EACH

Rs.100,000/-

Rate (p.a %)

FROM TO

27/8/2012 11/10/2012 1125 13.50%


4

BAHB

OOD


12/10/2012 31/12/2012 1080 12.96%

1/1/2013 30/06/2013 1060 12.72%

01/07/2013 30/09/2013 1020 12.24%

01/10/2013 Till Date 1120 13.44%

Who Can Make investment BSCs

Only widows and senior citizens aged 60 years and above are eligible to invest.

Purchase Procedure

These certificates can only be purchased from the National Savings Centre (NSCs) by filling in

a prescribed form called SC-1, which is available at the offices of issue free of cost. A copy of

the National Identity Card and necessary evidence regarding eligibility is required to be

attached with the application form.

Deposit for BSCs.

The certificates can be purchased by depositing cash at the issuing office or by presenting a

cheque. The certificates shall immediately be issued on receipt of cash. However, in case of

deposit through cheque the certificates shall have the effect from the date of realization of the

cheque after receipt of the clearance advice.

Limt of investment in BSCs

The minimum investment limit in this scheme is Rs.5,000/-, whereas, the maximum limit is

Rs.3,000,000/-. Investment in allowed in multiple of Rs.5,000/-..



Redemption

The certificates can be encashed any time after issuance subject to deduction of service charges at the following

rates:

If encashed before completion of one year from the date of purchase @1.00% of the face value

From the date of purchase

If encashed after one year but before completion of 02 years from

the date of purchase. @0.75% of the face value

If encashed after two years but before completion of 03 years @0.50% of the face value

from the date of purchase.

If encashed after three years but before completion of 04 years @0.25% of the face value

from the date of purchase.

If encashed after completion of 04 years No service charges

What is the Return.

At the prevailing rates monthly profit of Rs.1020/- is paid on investment of each Rs.100,000/-. This way the profit rate works to 12.24% p.a. Automatic reinvestment of profit facility to earn further profit is not admissible in this scheme at the scheme's rate. The monthly profit, if not drawn on due date shall not earn further profit.

Tax & Zakat Status.

The withholding tax is not collected on the profit earned on these certificates. The investment made in this scheme is also exempt from Zakat.



Savings Account


NATIONAL SAVING

“ACCOUNTS”


This is the oldest scheme among the National Savings instruments. The scheme has been

designed to encourage the small savers and to meet their day to day needs. This is an ordinary

account and frequent withdrawals (twice a week) can be made through this account.

PROFIT RATE-SAVING ACCOUNT:

RATE REMAIN APPLICABLE DURING THE PERIOD ACCOUNT WIHOUT

CHEQUE FACILITY (P.a

%)

ACCOUNT WIH CHEQUE

FACILITY (P.a%)

FROM TO

27/8/2012 11/10/2012 7.40% 7.40%

12/10/2012 31/12/2012 6.85% 6.85%

1/1/2013 30/06/2013 6.65% 6.65%

01/07/2013 30/09/2013 6.00% 6.00%

01/10/2013 Till Date 7.25% 7.25%

Eligible Investors














How to Invest?

These accounts can be opened at any National Savings Centre (NSCs) and Pakistan Post Office

(PPO) by filling in a prescribed form called DA-1, which is available at all, the above offices

of issue free of cost. A copy of the National Identity Card or in case of a foreign national, a

copy of the Passport may be attached with the application form

Method of Deposit.

The accounts can be opened by depositing cash at the issuing office or by presenting a cheque. The passbook and withdrawal slip shall immediately be issued on receipts of cash. However, in case of deposit through cheque the account shall be opened from the date of realization of the cheque after receipt of the clearance advice.




The minimum investment limit is Rs.100/- in the scheme with no maximum limit. However, only one account can be opened by person at an office of issue.

What About Withdrawal .

The deposits can be withdrawn any time from the date of deposit. However, there is a limit of three withdrawals within a week's time.

What is the Return.

Profit in this account is credited on 30th June every year and is worked out on the lowest balance of an account between the close of the sixth day and end of the month. The current rate of profit is 7.25% p.a.

Tax & Zakat Status.

Exemption of deduction of Withholding tax has been withdrawn w.e.f 01-07-2013 on profit of investment upto Rs.150,000. The profit earned on these accounts is subject of deduction of 10% withholding tax at source. Zakat is also applicable as per rules.

Special Savings Account

A three years maturity scheme introduced in February, 1990. The deposits are maintained in

form of an account. Profit is paid on the completion of each period of six months.

Who Can Invest?.














How to Invest.

These accounts can be opened at any National Savings Centre (NSCs) and Pakistan Post Office

(PPO) by filling in a prescribed form called DA-1, which is available at all, the above offices

of issue free of cost. A copy of the National Identity Card or in case of a foreign national, a

copy of the Passport may be attached with the application form.

Mode of Deposit.

The accounts can be opened by depositing cash at the issuing office or by presenting a cheque. The passbook and withdrawal slip shall immediately be issued on receipts of cash. However, in case of deposit through cheque the account shall be opened from the date of realization of the cheque after receipt of the clearance advice.


The minimum investment limit in this scheme is Rs.500/-. There is not maximum limit, however, the deposits are required to be made in multiple of Rs.500/-.

When Can I Withdraw my deposits.

The amount be withdrawn at par any time after the date of its deposit. However, no profit is payable in case the withdrawals are made before completion of 6 months.



What Will I Get As Profit.

At the prevailing rates the profit is paid @ 10.60% p.a. for 1st five profits and the last profit @ 11.50% p.a. However, if the profit is not withdrawn on due date, it will automatically stand reinvested and would be calculated for further profit on completion of the next 06 months period.

Tax & Zakat Status.

Exemption of deduction of Withholding tax has been withdrawn w.e.f 01-07-2013 on profit of investment upto Rs.150,000/-. The profit earned on these accounts is subject of deduction of 10% withholding tax at source. The Zakat is collected at source as per rules at the time of withdrawal of principle amount. However, Zakat is not collected in case of reinvestment.

Pensioner's Benefit Account

Keeping in view the hardships faced by the pensioners and to guard them against the declining

rate of return on National Savings Schemes, this ten years' maturity scheme was launched by the

Government on 19th January, 2003. The deposits are maintained in the form of accounts and the

profit is paid on monthly basis reckoned from the date of opening of the account.

Investor:

The pensioners of Federal Government, Provincial Governments, Government of Azad Jammu

& Kashmir, Armed Forces, Semi Government and Autonomous bodies are allowed to invest.

Purchase Procedure:

These accounts can only be opened at the National Savings Centre (NSCs) by filling in a

prescribed form called DA-1, which is available at the offices of issue free of cost. A copy of

the National Identity Card and the copy of Pension Payment Order may be attached with the



application form.

Deposit.

The account can be opened by depositing cash at the issuing office or by presenting a cheque.

The account shall immediately be opened on receipt of cash. However, in case of deposit through

cheque the account shall be opened with effect from the date of realization of the cheque after

receipt of the clearance advice.

Investment Limit

The minimum investment limit is Rs.10,000/-, whereas, the maximum limit is Rs.3,000,000/-.

If an investor has already opened an account, he is eligible to invest only two subsequent

deposits in that account.

Encashment

The deposits can be withdrawn any time after date of deposit subject to deduction of

service charges at the following rates:

if withdrawn before completion of one year from the date of deposit. @1.00% of the face value

if withdrawn after one year but before completion of 02 years from

the date of deposit. @0.75% of the face value

if withdrawn after two years but before completion of 03 years from

the date of deposit. @0.50% of the face value

if withdrawn after three years but before completion of 04 years from

the date of deposit.

@0.25% of the face

value

What I Get As Profit?



At the prevailing rates monthly profit of Rs.1020/- is paid on investment of each Rs.100,000/-.

This way the profit rate works to 12.24% p.a. Automatic reinvestment of profit facility to earn

further profit at the scheme's rate is not admissible in this scheme.

Tax & Zakat Status.

The withholding tax is not collected on the profit earned on the deposits made in this scheme.

The investment made in the scheme is also exempt from Zakat.


Prize Bonds


IntroductionPrize Bonds are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,

500, Rs.7, 500, Rs.15, 000 and Rs.40, 000.

These bonds are issued in series.

Each series consist of one less than 1,000,000bonds.

No fixed return is paid

Prize draws are held on quarterly basis.

These Bonds shall enchased at par any time after their issue

These bonds can b purchased or sale at the following places, namely: -

1. Office of the Stat Bank of Pakistan.

2. Banks authorized in this behalf by the State Bank of Pakistan.

3. National Saving Centers.

DenominationFirst Prize 2nd Prize 3rd Prize

No. Amount No. Amount No. Amount

Rs. 200/-

01 Rs. 750,000 05 Rs. 250,000 2,394 Rs. 1,250

Rs. 750/-

01 Rs. 1,500,000 03 Rs. 500,000 1,696 Rs. 9,300

Rs. 1,500/-

01 Rs. 3,000,000 03 Rs. 1000,000 1,696 Rs. 18,500

Rs. 7,500/-

01 Rs. 15,000,000 03 Rs. 5,000,000 1,696 Rs. 93,000



Rs. 15,000/-

01 Rs. 30,000,000 03 Rs. 10,000,000 1,696 Rs. 185,000

Rs. 40,000/-

01 Rs. 75,000,000 03 Rs. 25,000,000 1,696 Rs. 500,000

Schedule of prize bonds 2013 Bond

#Date City

Rs. 15,000

53 1/2/2013 MULTAN

Rs. 750 53 1/15/2013 PESHAWAR

Rs. 7,500 53 2/1/2013 LAHORE

Rs. 25,000

4 2/1/2013 FAISALABAD

Rs. 1,500 53 2/15/2013 QUETTA

Rs.100 1 2/15/2013 KARACHI

Rs. 40,000

53 3/1/2013 HYDERABAD

Rs. 200 53 3/15/2013 FAISALABAD

Rs. 15,000

54 4/1/2013 PESHWAR

Rs. 750 54 4/15/2013 MULTAN

Rs. 7,500 54 5/2/2013 MUZAFARABAD

Rs. 25,000

5 5/2/2013 KARACHI

Rs. 1,500 54 5/15/2013 HYDERABAD

Rs.100 2 5/15/2013 RAWALPINDI

Rs. 40,000

54 6/3/2013 LAHORE

Rs. 200 54 6/17/2013 QUETTA

Rs. 15,000

55 7/2/2013 MUZAFFARABAD

Rs. 750 55 7/15/2013 RAWALPINDI

Rs. 7,500 55 8/1/2013 KARCHI

Rs. 25,000

6 8/1/2013 MULTAN

Rs. 1,500 55 8/15/2013 PESHAWAR

Rs.100 3 8/15/2013 FAISALABAD

Rs. 40,000

55 9/2/2013 MULTAN

Rs. 200 55 9/16/2013 HYDERABAD

Rs. 15,000

56 10/1/2013 RAWALPINDI

Rs. 750 56 10/15/2013 KARACHI



Rs. 7,500 56 11/1/2013 MULTAN

Rs.25,000

7 11/1/2013 MUZAFARABAD

Rs. 1,500 56 11/15/2013 RAWALPINDI

Rs.100 4 11/15/2013 LAHORE

Rs. 40,000

56 12/2/2013 FAISALABAD

Rs. 200 56 12/16/2013 LAHORE

Silent Feature:1. The Federal Government may withdraw any of the Bonds of circulation time by notification

in the official Gazette.

2. No claim of a prize on the Bonds so withdrawn shall be admissible after the issue of

the notification under sub-rule.

3. These Bonds may be purchased any time on payment in cash and no application form shall be

necessary.

4. The sale of these Bonds shall be opened till such time as the Federal Government withdraws

the Bonds.



Procedure of Transfer of Certificate from One Center to Another:

Sc-6 from is used for transfer from one center to another. When an investment is desires to

transfer his/her certificate(s) from one centre to another, the following requirement will be

fulfilled by the investors.

1. Application for transfer:

(a) He/She shall personally present a written application on the prescribed form SC-6 in

duplicate at the centre where the investment is originally being maintained along with the

certificate(s).

(b) Application for transfer of certificates(s) may also be presented in duplicate along with the

certificates(s), at the center where these are desired to be transferred, which shall be sent to

the original center under registered post.

(c) A stamp “Under Transfer” shall be affixed on the reverse of certificate(s) being transferred

And on unused profit coupons of profit coupon book before sending to the center concerned.

2. Duplicate National Identity card copy for every registration (attested by incharge).

3. Original Certificate.

4. SC-6 in duplicate.

5. Profit coupon slip if issue.

6. For transfer of each registration of certificates, separate application shall be required to be

presented.

7. In case of illiterate person:

A person known to the officer concerned or to his/her satisfaction must attest his/her thumb

impression on the application.



8. In case of Joint investment:

‘A’ or ‘B’, the application must be signed by both the investors.

9. In case of minor:

The application should be signed by the person who has originally made the investment on

minor’s behalf along with certificate that minor is alive are certificate are being transferred his

/her behalf.

The following steps be kept in view while examining the application for transfer of

certificate(s)

1. The signature on SC-6 form should tally with those recorded on the originally application.

2. In case of illiterate person: A person other than the staff members Known to the center in

charge should be attested Thumb impression.

3. The certificate(s) desired to be transferred, are actually issued in the name of applicant(s)

and not enchased, pledged, report lost, stolen, burnt or spoilt and that .no of applicant

certificate(s) have been issued in view there of.

4. It shall be ensured that no audit observation in respect of the registration being transferred is

Pending for rectification.

5. Serial Nos. of profit coupons book shall be cancelled and kept along with the paid profit

coupons for the day.

Transfer not allowed from one centers to another

Transfer of certificate(s) shall be refused in the following cases:

1. within the city (local center).

2. Part of any one registration (local period).

3. Before the expiry of period of non-encashability.

4. within three moths of transfer from another centre.

5. Duplicate certificate(s) issued in? Of.



6. After the death of certificate holder.

7. In the absence of life certificate of minor fro his/her guardian.

8. The certificates of minor after he/she has attained majority until the operations are allowed to

him.

9. Court restrictions.

10. Both the NSCs we located at the same station except with the prior permission of controlling

officer.

Note: All the transferred cases shall e attended on ‘Top Priority’ basis ensuring that no delay is

occurred on the part of any one concerned with it and the whole processes shall be completed

with in one month at the most.

Transfer of certificate(s) from one person to another

SC-4 is a form which is for transfer from one person to another

1: Subject to the fulfillment of provisions of rules both the transferred(s) and the transferee(s)

Shall apply in person to the centre on form SC-4 dully filled in and complete along with

certificate(s) and photo copies of NIC in his/her application.

2. After verifying by center in charge the application shall obtain the approval from, the

Regional Directorate and otherwise the requested transfer.

3: The original certificate(s) shall be discharged under dated signatures of the transferee.

4. New certificate(s) issued in the name of transferee which shall bear the same date as

of original certificate.

5. The un-used Profit Coupons of a Profit Coupon book issued, if any shall have to be

Surrendered by original holder, cancelled & attached.

6. New Profit Coupon book issued to the transferee their serial numbers, and the office of issue

of each.

7. Name and address of the applicant.

8. Face value of the certificates it is sought to transfer, their serial numbers, and the office

of issue of each.



9. Name of person to whom transfer is proposed.

10. Relationship (if any with) the person to whom transfer is proposed.

11. The full circumstances, which necessitate the transfer

12. A fee of rupee one only will be payable on an application for transfer.

Nomination

In the case of purchase of certificate by individual or individual, whether adult or minor , holding

the certificate singly or jointly, nomination may be made by purchase(s) of certificate in the

application form at the time of the purchase, specifying the amount, whether whole or in part

receivable purchaser(s). A holder of a certificate may, at any make a nomination if he has not

done so earlier or, by notice to the issuing Authority, varies or cancels his previous nomination.

In case of more then one nomination they shall be presumed to hold equal shares if the same is

not specified in the application for purchase of certificate(s). In case of more then one

nomination, payment can be made to one of the nominees when the others have not lodged their

claims.

Certificate(s) purchase on behalf of minor

Transactions there of on attaining maturity.

When a minor holder of certificate attains maturity the person who purchased the certificate(s),

on his/her behalf or the minor himself/herself attaining maturity shall be required to intimate the

fact of his/her having attained maturity to the center on a plain paper along with following

documents:-

1: An attested copy of NIC along with date of attain maturity.

2: Specimen signatures of minor duty attested certificate.

3: The original certificate.



Internship in a National Savings in quite different experience

from my expectations. It is very difficult to analyze the performance or structure of National

Savings or nay organization while worked in its small unit. Another problem is that information

are not available, I can’t get the annual reports.

In these circumstances it is very difficult to analyze but, I tried my best.

STRENGTHS

Excellent Intra Organizational Employees relation

The staff members are well equipped with the tool of personal relations

Experienced And Energetic Employees

Majority of the staff is experienced and energetic.

Auspicious Working Environment

The working environments of the branches are favorable for the working of staff.


SOWT

ANALYSIS


Friendly Attitude

Generally the attitude of the employees is very good with the customers and with each

other.

Highest Profits

National Saving organization has paying more profit for different schemes as compare to

its competitors.

Security of Investments

National Savings organization is the Govt. owned organization that is why the Pakistan

public trusts his organization and its schemes are secured. Due to this the deposits of

the organization are increasing day by day.

Schemes for All Income Stages

National saving organization has so many schemes for the lower middle and highest

Level income people of Pakistan.

Vast Network of Centers

National Saving organization has the large network of centers.



WEAKNESSES

lack new and modern technology

The National Saving organization lack new and modern technology.

The transactions in the regional offices as well as the branches are not computerized.

Slow Development

The organization is in high profits but it’s working in the manual form. Well the

organization has admitted the need in this regard and has been developing computer

department for this purpose.

Poor Marketing

There is no specific marketing department to develop general awareness about the

schemes of organization. People invest in the other higher risked and low profitable schemes of

other banks. If they are provided with proper guidance and awareness about the schemes of this

Organization this organization would earn the highest investments.

Unavailability of Financial Reports

Financial Reports and magazines are not published for public and therefore it’s financial

analysis is not possible.



OPPORTUNITIES

Enhancement of NSC's In other countries

There is need of rapid enhancement of NSC's branches especially in foreign countries.

National saving centers do not exist outside the Country. So they are loosing market

which will be effective source of revenue for government of Pakistan.

Develop Efficient Computerized system

The National Saving organization has the opportunity to computerize its branches and

Regional offices. Thus all dealing of record would be more secure & efficient

Create more customers and Employment

Though National Savings organization has a vast network of branches all over the

Pakistan but, Still there are a large number of cities that lack NSC's. Thus National

Savings has an opportunity to introduce new and modern layout of branches and regional

offices to attract the employees and

Develop customers delight through ATM

NSC should develop the ATM facility to enhance the customer's delight and feasibility



THREATS

World Bank pressure for cutting interest rate

Illiterate customers don’t know how to deal with their certificates and accounts. Due to

their unawareness they create great problems for org. and for themselves as well.

Political changes and influences with the passage of time.

Number of banks has enormously increased if proper attention would not be given the

National savings would lose its unaware potential customers

Low salary officers are a threat for the organization, as they don’t give proper attention

to their work.

SUGESTIONS AND RECOMMENDATIONS

Adaption of new technology:

Now days every organization is making every effort to exploit development in technology time

to deliver high quality products and services in cost effective way.in national saving center



mostly work done manually.so there is opportunity for national saving center to avail it and use

latest technology.

Marketing:

National saving centre is working in high competitive environment. So promotion of schemes

can be a very important strategy to take competitive advantage. So a full fledged promotional

program .should be launched to create awareness about the schemes of national savings

organization

Branch Environment

In case of financial institution the branch environment plays a vital role. National savings center

requires a lot of improvement in this respect. General cleanliness conditions are very bad. So

there is need to take immediate action for the improvement of branch environment.

Training of the personnel

Employees are most important asset of an organization. They must be provided with proper

training to meet the changing needs of Business. National savings organization does not have

such culture. An advertisement campaign must be run to educate the current and potential

customers about the rates of its products and handling of accounts certificates

Establishment in other countries

There is need of rapid enhancement of NSCs branches especially in foreign countries. National

saving centers do not exist out side the Country. So they are loosing market which will be

effective source of revenue for government of Pakistan.

Limitations

No up to date final report is available in national saving office.

According to them “no report is published since last ten years”. So you can imagine government



interest in national saving center after knowing this fact. Information is not available in any book

available in the department library and even in central library, due to heavy burden of customers

we cannot get maximum information from the in charge of center.

Many member of office do not have the complete information about the organization. So the

report is prepared on verbal discussion with the employees of the organization and information

extracted manually from national saving centers website.

REFERENCES:

o www.savings.org.pk

o www.nationalsavings.org.pk

o www.mystrategicplan.com

o Anwer Bhatti ( September 13, 2007) Assistant Director, Regional Office NSO, Bahawalpur

o Tariq Mahmood (August'2007) Branch Manager, National Saving Center II Bahawalpur

o Ghulam Murtaza Syal (August '2007) Cashier , National Savings Center II Bahawalpur

o Rana Sb (August '2007) Operational Manager, National Savings Center II Bahawalpuro Usman Sb (August '2007) Account Officer, National Savings Center II Bahawalpuro Noreen (August '2007) Account Officer, National Savings Center II Bahawalpuro Fredric S. Mishkin (2006) Financial Markets + institutions 5th edition


http://www.mystrategicplan.com/

http://www.nationalsavings.org.pk/

http://www.savings.org.pk/


APPENDIXES

A: Detail of different centers of BWP region

B: Restricted Account of NSO (Mahana Amdani Account)

Appendices:

Details of Different Centers of Bahawalpur Region:

Total centers =20

Nsc 1 D I G chock Bahawalpur Nsc 2 welcome gate railway road Bahawalpur Nsc 3 model town BahawalpurNsc 4 Commercial Area BahawalpurNsc 5 Ahmed-pur(east) Nsc 6 liquat pur.Nsc 7 khanpurNsc 8 Rhaimyar-khanNsc 9 Sadiqabad.Nsc 10 Yazman.Nsc 11 lodhranNsc 12 kahroadpaka Nsc 13 MalseeNsc 14 kharpur tamawaliNsc 15 Hasil pur



Nsc 16 ChishtianNsc 17 BahawalnagarNsc 18 MinchanabadNsc 19 Haroonabad Nsc 20 Fortabas

Restricted Scheme Of NSc

Mahana Amdani Account:

This Scheme is entertaining the existing account holders but is not opening new accounts.

Monthly deposits from Rs. 500, to Rs. 5000, in this account for continuous 84 months entitle the

investor to receive an amount which is equal to his monthly deposit every month , after the

completion of 84 months, until the account is closed.

A missing installment can be deposited within 6 months of the month to which the installment

relates with a surcharge at the rate of two rupees per hundred per month.

Only one account may be opened in the name of any one person either singly or jointly with

another person. Every Rs.100 becomes

Profit/return not exceeding Rs.1000 is exempt from deduction of tax at source.

(2) Period of receiving deposits

Monthly deposit in an account under these rules shall beas under:

(a) on the accounts opened before 01-07-2000. (For period of five years).

(b) on the accounts opened on or after 01-07-2000. (For a period of 6 years.



(3) Operation accountThe account may be opened only in the National Savings Center.

Eligibility.

The account may be opened by

(i) a single adult ; or

(ii) two adults in their joint name,---

(a) Payable to the holders jointly or to either of them with the consent of the other,

or

(b) Payable to either;

(III) father or mother or legal guardian on behalf of a minor or minors.

One account only,--

Only one account may be opened in the name of one person either singly or jointly with another

person. Father or mother or legal guardian may, however, open an additional account on behalf

of a minor.

Deposit in multiple---

1. The account may be opened with a minimum monthly installment of five hundred rupees.

2. The amount of monthly installment may be increased in multiples of one hundred rupees,

but the installment less than last installment shall not be placed.

3. The monthly installment shall not exceed five thousand rupees whether held by one person

or by two person jointly. And for the purpose of calculating the individual installments

when two persons are joint account holders, one half of the joint installment shall be assumed



to belong to each.

4. An account holder hall, under no circumstances, exceed the monthly maximum permissible

limit of instalment

Monthly installment:-

1. Only one installment may be received in an account for a month.

2. Any installment received in the first fortnight of the month may be reckoned to have been

received on the 1st month and an installment received in he second fortnight of the month may

be reckoned to have been received on the 16th of the month.

(3). advance installments for any period may also be received provided the is talment for each

month does not exceed five thousand rupees:Provided that such deposit shall be reckoned to have

been received on the Its of the month to which it rates

(4) Month to which the instalment related with a surcharge at the rate of two rupees per hundred

per month, and such deposit shall be reckoned to have been made on the 16 the of the month to

which the instalment related

(5) The profit earned under these rules shall be subject to tax as per rules.



(6)Closure of Account,-

(1) The account shall be considered as closed if .

(i) withdrawal from the account is made within a period of

six years; or

(ii) monthly instalments are not deposited consecutively for

six months ;or

(iii) all the deposits are withdraw after 6 years of the

opening of an account, but the withdrawal of one or

more deposits shall not close the account.

(2) Omitted.

(11) Automatic re-investment—

1. The monthly instalment in an account on completion of each 6 years shall be deemed to have

been re-invest for another period of 6 years.

2. Disbursement of profit as monthly income shall commence on the completion of 6 years of

each deposit and shall continue so long as account is not closed.

(12) How to open an account.:

1. Any person wishing to open an account should apply to any National Savings Center, here in

after to as the Center, in the Application form.

2. Application need not necessarily be made in person, but the applicant sign the application and

stat his or her name, father’s or husband’s name, complete address and occupation.

3.The applicant shall also affix his or her signature on the specimensignature card.

4. If the account is desired to be opened through a bank, the Bank Manager would attest the



signature of the depositor, or his or her Thumb-impression of the depositor is unable to write, or

if the Accounts desire to be opened through an agent shall attest the Signature or thumb-

impression of the applicant before the Center-in-Charge where the account is desired to be

opened.


Annexure





