FREQUENTLY ASKED QUESTIONs

[ INVESTMENT FROM ABROAD ]

Q.09.      I am presently out of the country and want to withdraw the profit of my investment made in NSS in Pakistan, can I do this? If yes, what are the steps?

 Ans:       As per rules a purchaser can nominate an agent for collection of profit of the principal at his personal risk after issuing a power of attorney duly attested by the Pakistani missions working in that country subject to entire satisfaction of the Officer Incharge of National Savings Centre concerned.

 Q.10    What is the procedure to invest in National Savings Schemes from abroad? In which scheme(s) I can invest, and what documents are required?

 Ans:      Investment from abroad can be made through Bank Draft/Cheque in any   foreign currency in favour of any of our office(s), alongwith the application form duly filled in and the copies of Passport and National identity Card. The Bank Drafts got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are payable at the same city where the investment is intended to be made.

            The investment in the National Savings Schemes is maintained and expressed   in Pak rupee only. Amount received in foreign currency is converted into Pak   rupee on the prevailing official exchange rate through normal Banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange if so desired by the investor. For the purpose, the payable amount shall be converted into the desired currency at the official exchange rate prevailing at the time   of conversion/payment.

 


 

   General Quires

   Prize Bonds & Payment of Prize Money

   Withholding Tax

   Zakat Matters

 

 

 
Copyright 2000 © www.savings.gov.pk  Inc
All rights reserved.