Accountancy Forum

Full Version: EARTHQUAKE VICTIMS AND BANK ACCOUNTS
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
A news item appeared in The News about an earthquake labourer victim who got compensation cheque of Rs. 25,000 and had some problems in opening a bank account to encash the cheque as he still held the old National Identity Card (NI). An Azad Kashmir citizen proving more loyal than the king in return commented that how NADRA gave a last date for applying new replacement Computerised National Identity Cards (CNIC) and how it had facilitated the people by providing cheap photographing facilities. He also added how great it was the authorities have allowed that one can open a bank account with old INIC provided he also submits an undertaking that he would replace is with CNIC and also submits a copy of Receipt from NADRA of having applied for a CNCN. NADRA’s cheap photographing facilities is just like other many similar things available in the country. For example despite yearly floatation of uniform tenders, expenditure having been recorded as done, I am till today unable to show my 12 year child a uniform postman photograph of which my child had seen in his 4th class book. Or like availability of a porter/Qooli at our railway stations at Rs. 5/- where big notices are displayed “Per Trip Rs. 5/-“. The citizen can well be hired by NADRA or PTCL etc where he can prove himself a wonderful PR expert. However he forgot to realize if a person does not hold CNIC how problematic and lengthy it would be for an illiterate labourer to arrange an Indemnity/ Undertaking etc.

Government is really kind in giving compensation of Rs. 175,000 despite limited resources out of which first installment of Rs. 25,000 has been paid. This is a commendable job. Knowing well our whole system as well as the society generally we live in including myself I do appreciate that government had no way to give this compensation in cash or through a bearer cheque. Government since itself is accountable before the legislature namely the nation hence it had only option to give this compensation through crossed cheques. However it is also a fact due to increasing costs of house erecting materials particularly in those devastated areas this Rs. 25,000 is very meager. Practically a labourer will be able to withdraw only Rs. 15,000 as he would have to leave in the newly opened bank account Rs. 10,000 towards minimum balance. Otherwise he would have to get penalised Rs. 50 a month for the income of the Bank so that through this income the Bank could either engage its golden hand shaked dear one back as consultant on huge contract salary or give a bad loan.

well it is not new.... a very commmon practice in Pakistan.... no one cares for it at all... articles should be written...& instant actions should be taken by Government of Pakistan to solve this problem