National Saving Schemes: Investment by overseas Pakistanis

HOW TO INVEST IN NATIONAL SAVINGS SCHEMES?
1. Directly in a Bank ( authorized branches) in Pakistan from his / her own account (in case of SSC® & DSC only).
2. Application form SC-1 may be downloaded from the website and filled in.
3. Attach the cheque / bank draft in favour of Officer Incharge of National Savings Centre concerned.
4. Attach copies of the Passport and CNIC/NICOP/POC.
5. Send to the concerned National Savings Centre directly or concerned Regional Directorate of National Savings. (Addresses are given below;
Central Directorate of National Savings,
23-N, Savings House, G-6 Markaz,
Civic Centre, Islamabad.
Ph. # 051-9215741-50, Fax 051-9215761
email info@savings.gov.pk
URL www.savings.gov.pk
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Regional Directorate:
Regional Directorate of National Savings, Peshawar.
Building No.1, Mian University Road,
Tehkal Payan, Peshawar.
Phone # 091-9218337-38, Fax # 091-9218336

Regional Directorate of National Savings, Abbottabad.
Savings House,
Opposite Modernage Public School & College
Mansehra Road, Supply Bazar,
Abbottabad Cantt.
Phone # 0992-9310486, 0992-9310488, Fax # 0992-9310487

Regional Directorate of National Savings, Islamabad.
Premises No. 12-L Sitara Market, Markaz G-7, Islamabad.
Phone # 051-9253082-83, Fax # 051-9252485

Regional Directorate of National Savings, Gujranwala.
28-A, Satellite Town, Gujranwala.
Phone # 055-9200422, 9200345, Fax # 055-9200352
Regional Directorate of National Savings, Lahore.
29/30-F, Gulberg-II, Lahore.
Phone # 042-9263030-31, Fax # 042-992630-31

Regional Directorate of National Savings, Faisalabad.
650-D, Peoples Colony No.1, Faisalabad.
Phone # 041-9220465-66, Fax # 041-9220465

Regional Directorate of National Savings, Multan.
Building No.20-B, Opposite Govt. Girls High School,
Gulgasht Colony, Multan.
Phone # 061-9210238, 061-9210240, Fax # 061-9210239

Regional Directorate of National Savings, Bahawalpur
3-C, Rashid Minhas Road, Model Town-A, Bahawalpur.
Phone # 062-9255151-53, Fax # 062-9255152
Regional Directorate of National Savings, Sukkur.
Opposite Al-Faisal Medical Centre, Military Road, Sukkur.
Phone # 071-9310241-42, Fax # 071-9310247
Regional Directorate of National Savings, Hyderabad.
Bungalow No.5, Muslim Co-operative Housing Society, Opp. Sindh Museum, National Highway, Hyderabad.
Phone # 022-9240095-93, 9200345, Fax # 022-9240095
Regional Directorate of National Savings, Karachi
Shahrah-e-Faisal, Shaeed-e-Millat Chowk, Karachi.
Phone # 021-34556463, 34544503 Fax # 021-34535591

Regional Directorate of National Savings, Quetta.
Banglow No.1, Bolan Hotel, Gulistan Road, Quetta.
Phone # 081-9201726, Fax # 081-9201726

6. Certificates will be dispatched through Registered Post on your given address.

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ENCASHMENT OF CERTIFICATES / PAYMENT OF PROFIT.
1. The investor shall send the certificates / coupons duly signed with an endorsement “for payment in foreign currency”
2. The investor shall attach a letter containing particulars of certificates / coupons, foreign currency account No. and the name of the Bank where the draft is desired to be drawn.
3. The cheque will be dispatched through Registered Post on given address of the investor.

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HOW TO ENCASH THE SAVINGS CERTIFICATES ON THE BASIS OF POWER OF ATTORNEY.
1. Power of attorney shall contain full particulars of the investment i.e. the amount Regd. No., date of issue, name of original holder, account number, concerned National Savings Centre, specimen signatures of the investor and the signatures of authorized person.
2. Special Power of attorney must be verified by the 1st or 2nd Secretary of the Embassy / Consulate General.
3. The investor(s) must send photo copies of his computerized National Identity Card(s) / Pakistan Origin Card(s) / National Identity Card for Overseas Pakistanis (NICOP), Passport and Health Insurance certificate, indicating his presence abroad duly attested by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
4. Attach the signed and filled certificates on reverse side according to the prescribed rates.
5. Send the above documents to the National Savings Centre concerned or Regional Directorate of National Savings. (Addresses are given click here).
6. The attorney shall execute an indemnity bond alongwith surety of an Officer of BPS-17 attested by the Notary Public and countersigned by Class-1 Magistrate to the fact that he will deliver the cheque to the original holder and attorney and surety will be responsible in case of any misrepresentation or concealment of facts if raised by the original investor.
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HOW TO GET PROFIT ON THE BASIS OF POWER OF ATTORNEY.
1. Profit can be received on the basis of Special Power of Attorney by authorizing any person in Pakistan giving his / her full particulars.
2. The Power of Attorney so issued shall contain full particulars of the investment.
3. The Special Power of Attorney shall be verified by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
Non Resident Pakistani

PROCEDURE OF INVESTMENT FROM ABROAD
A non resident Pakistani can make investment in National Savings Schemes from abroad by sending Cheque / Draft in any currency in favour of Officer Incharge of National Savings Centre alongwith the application form duly filled in and copies of Passport and National Identity Card. The Bank Draft got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are also payable at the same city to the National Savings Centre where the investment is intended to be made.
The investment in all 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 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 exchange rate prevailing at the time of conversion / payment. The certificates will be dispatched through registered post on given address.

How to encah Savings Certificates from abroad on the basis of power of attorney.
i) The investor(s) or nominee(s), as the case may be, living abroad shall issue a Power of Attorney, authorizing any person in Pakistan giving his / her full particulars, to collect their cheques. The Power of Attorney so issued shall contain full particulars of the investment i.e. the amount, Registration No. and date of issue of the certificates, name of original holder or Account number and the concerned NSC (office of issue) and the specimen signatures of person(s) issuing it and shall be verified by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
ii) The Savings Certificates of any nature shall be signed on reverse by the investor(s) or nominee(s).
iii) The investor(s) or Nominee(s) shall address an application to the Officer Incharge of the concerned Centre in Pakistan, stating therein, the complete particulars of the investment i.e. the amount, registration number & date of issue of certificates (BSC, RIC), name of original holder(s) and complete particulars of the Attorney, appointed to receive the payment.
iv) The investor(s)/nominee(s) must send photo copies of his/her/their computerized National Identity Card(s) / Pakistan Origin Card(s) / National Identity Card for Overseas Pakistanis (NICOP), Passport and Health Insurance certificate, indicating his/her/their presence abroad duly attested by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
v) The Attorney shall execute an indemnity Bond (on stamp paper of proper value) alongwith surety of an officer of BPS-17 attested by the Notary Public and countersigned by Class-1 Magistrate to the effect that he (Attorney) will deliver the cheques(s) to the issuers of the Power of Attorney (investor or the nominee(s) and that if due to misrepresentation or concealment of facts by the executants of Power of Attorney, any claim is raised by the original investor(s) or nominee(s) the attorney and the surety shall be responsible to indemnity the Government of Pakistan.

How to get profit on Savings Certificates from abroad on the basis of power of attorney.
i) An investor can get profit of his certificates / accounts on the basis of Power of Attorney by authorizing any person in Pakistan giving his /her full particulars, to collect the profit in his name subject to the entire satisfaction of the Officer Incharge concerned.
ii) The Power of Attorney so issued shall contain full particulars of the investment i.e. the amount, Registration No. and date of issue of the certificates, name of original holder and the concerned National Savings Centre and shall be verified by the 1st and 2nd Secretary of Pakistan Embassy / Consulate General in the country of his / her residence.

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