Akasha shafiq

INTERNSHIP REPORT ON NATIONLA SAVING CENTER
1 TheIslamia UniversityOfBahawalpur
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.
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
Institute
II.
Directorate of Insp. & Acctt
III
Regional Directorates
Sub
TINS
Zonal Insp.
& Accts
Regional
Accts Offices
Karachi Peshawar Peshawar Abbottabad Peshawar Abbottabad
Islamabad Islamabad Gujranwala Islamabad Gujranwala
Lahore Lahore Faislabad Lahore Faislabad
Multan Multan Bahawalpur Multan Bahawalpur
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:
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 director
100% 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
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.
 Safe custody of valuable documents or articles under the directions of
joint director.

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.
 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 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.

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
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 on
completion
of 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 1,060,000
2 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 1,220,000
4 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 Tax
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 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.

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%
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
If encashed after three years but before completion of 04
@ 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
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.

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%
After
Completion
Of period Rs. 500 1000 5000 10,000 50,000 100,000 500,000 1,000,000
1st six

Months 26.5 53 265 530 2,650 5,300 26,500 53,000
2nd six
Months 26.5 53 265 530 2,650 5,300 26,500 53,000
3rd six
Months 26.5 53 265 530 2,650 5,300 26,500 53,000
4th six
Months 26.5 53 265 530 2,650 5,300 26,500 53,000
5th six
Months 26.5 53 265 530 2,650 5,300 26,500 53,000
6th six
Months 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 10.50
Profit(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 5150
1/7/13 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.

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%
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
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
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
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
@0.50% of the face value
if withdrawn after three years but before completion of 04 years from
@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.

Introduction
Prize 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.
Denomination
First 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.
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 Bahawalpur
o Usman Sb (August '2007) Account Officer, National Savings Center II Bahawalpur
o Noreen (August '2007) Account Officer, National Savings Center II Bahawalpur
o Fredric S. Mishkin (2006) Financial Markets + institutions 5th
edition

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 Bahawalpur
Nsc 4 Commercial Area Bahawalpur
Nsc 5 Ahmed-pur(east)
Nsc 6 liquat pur.
Nsc 7 khanpur
Nsc 8 Rhaimyar-khan
Nsc 9 Sadiqabad.
Nsc 10 Yazman.
Nsc 11 lodhran
Nsc 12 kahroadpaka
Nsc 13 Malsee
Nsc 14 kharpur tamawali
Nsc 15 Hasil pur
Nsc 16 Chishtian
Nsc 17 Bahawalnagar
Nsc 18 Minchanabad
Nsc 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 account
The 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.

Akasha shafiq

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