UPTIL a few years back the amount that was invested in national savings schemes automatically stood re-invested on its maturity date.

This allowed investors to visit national savings centres at their convenience without losing out on the profit. Many times the certificates are deposited in courts and other agencies as security where they lie for ages because of legal issues.

By not allowing rollover, the public is being deprived of profit that is rightfully theirs.

Investors have already been subjected to unfair withholding taxes and lower rates of profit. The Supreme Court is requested to take suo motu action on depriving the public of this legitimate profit.

Iqbal Mirza Nazar
Karachi

Published in Dawn, October 9th, 2015

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