KCCI concerns over stoppage of payments by NSC

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) M Shariq Vohra has urged the government to look into this serious issue as any delay in these payments would intensify the hardships mostly for the senior citizens including retired individuals and widows whose lives depend on timely payments.

In a statement issued, President KCCI pointed out that KCCI had received numerous complaints as the returns of many individuals against their investments in NSC certificates had been put on hold without a valid reason and they all were extremely worried about it.

“It is a well-known fact that these payments belong mostly to senior citizens and widows whose lifetime savings are invested in certificates so that they could utilize the monthly returns on their daily bread and butter. Hence, it is really unfair to stop such critically and economically important payment,” he added.

In order to facilitate the senior citizens, the National Saving Center had to be completely digitalized and its operations should be improved as per banking standards while the profits payable should instantly be transferred into the personal accounts of its account holders, which would be widely welcomed as the senior citizens will not be required to visit saving centers every month to claim their dues and they will be able to access their profits online, he stressed.

The KCCI President asked the Ministry of Finance and the State Bank of Pakistan to issue directives for the immediate release of payments to the masses so that their lives were not disturbed.

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