It is unfortunate that Pakistan’s top-ranking organisation National Savings is riddled with corrupt practices. Even when the higher authorities are informed about this abuse of power, nothing really happens. Many employees are involved in these practices which often go unnoticed. For them, widows and less-educated clients who have invested all their hard-earned savings in various National Savings schemes and cannot fill their profit cheques/withdrawal slips are the soft target. Under the garb of withholding tax and service charges, these people deduct huge amounts from their monthly profits. They also apply a lower rate of profit when distributing the monthly profits.
These practices can easily be controlled if the organisation adopts the system of SMS alerts that can notify certificate holders the exact amount of profit. The profit can then be transferred to a certificate holder’s bank account. A majority of helpless and vulnerable people, especially widows, are being deprived of their rightful money because of the corrupt practices of a few. The authorities can take remedial measures to put an end to them.
A Kareem
Multan
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