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September 22, 2020

Old methods

Newspost

 
September 22, 2020

National Savings has failed to use technological innovations. Every month, a large number of senior citizens stand in a queue at various national savings centres to collect profit accrued on their investments. It is surprising to note that the institution hasn’t come up with a way to directly credit certificate holders’ profit to their bank accounts. Adopting this method is easy and stress-free. As soon as the profit is credited, the people will receive an SMS on their mobile phones. They can, then, visit their nearest ATM to withdraw the money.

In this way, no one would have to make these torturous visits to national savings offices. This change, which is being promised for the last 30 years, can easily be accomplished in a matter of weeks. The bureaucratic hurdles within these centres are stopping the much-needed restructuring of the institution. The government is requested to introduce urgent reforms in the management and processes of national savings centres.

Naeem Sadiq

Karachi