Depositors of National Savings Organisation (NSO) has urged the Federal Finance Minister Ishaq Dar to introduce Automated Teller Machine (ATM) network for payment of profit. The depositors while pointing out their difficulties in getting profit said that about five years ago in 2011, the NSC had decided to introduce ATM machines at centres across the country for account holders to draw profits but no progress has been made so far.
It may be mentioned here that pensioners at the time of their retirement invariably go for national saving schemes of the Government of Pakistan, and the National Saving Centres are authorised to deal with such schemes to the exclusion of other financial institutions. These schemes are called Pensioners Benefit Account and Bahbood Account with comparatively higher interest rates that have been sadly slashed considerably by the government.
It is learned that the Employees Old Age Benefits Institution (EOBI) has already finalised the necessary arrangements to disburse pension among its beneficiaries across the country through ATMs and initially residents of cretin cities will start receiving pension through ATMs cards from October this years.
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