Issues of investors

Recently, the National Savings organisation asked its account holders to open a savings account so that the monthly profit may be directly credited to the account without the hassle of any physical interaction.

This is all good, but the problem is that staff members at National Savings centres do not have proper information of the procedure. As a consequence, investors are facing a number of issues in this regard.

Though the National Savings has extended the last date for having functional accounts from Aug 31 to Oct 31, it should address the issues being faced by the people in this regard. The process needs urgent streamlining with a focus on client facilitation.

Earlier, the Central Directorate of National Savings (CDNS) had launched a debit card. While card issuance itself was a hassle and the investors had to pay for it, the bigger issue was that the card was launched even though National Savings has no ATM machine or network of its own. If the clients use the ATMs of various banks, they would have to pay a certain amount as service charge.

Why was the card issued? What is the use of this card when the issuer does not have its own ATMs?

The CDNS and the federal finance ministry should pay attention to the issues that are causing inconvenience to the investors.

DR ALFRED CHARLES

KARACHI