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Taxing the poor's savings

Taxing the poor’s savings
July 17, 2021
The prime objectives of creation of the NSS financial system were twofold. Benefit to the public and the government.
For the general public it provides:
1. An investment-based guaranteed stream of regular income for the aged, elderly, lower middle-class, private sector workforce, retirees, devoid of pension and State Social Security income, after having reached retirement age and or confronted with physical handicaps/disabilities limiting individual income generation capabilities.
2. Create an accumulated overtime, profit-generating savings pool for middle and lower class working earners to:
a. Purchase a home.
c. Cater to their children s marriages.
d. Cater to old age healthcare expenses, etc. ....

Shah Ponzi , Muhammad Tariq , National Saving Centers , State Social Security , Double Shah Ponzi , Benazir Support , Muhammad Ijaz Ul Haq , Shaukat Khanum Cancer , முஹம்மது தாரிக் , தேசிய சேமித்தல் மையங்கள் , நிலை சமூக பாதுகாப்பு , முஹம்மது இஜாஜ் உல் ஹக் , ஷௌுகத் காணும் புற்றுநோய் ,

Govt documents Rs60 billion worth of Rs25,000 bearer bonds

Govt documents Rs60 billion worth of Rs25,000 bearer bonds
Business
April 9, 2021
KARACHI: The federal government has documented Rs60 billion worth of bearer bonds valuing Rs25,000 each in three months to comply with one of the conditions of the Financial Action Task Force (FATF).
The documentation of bearer bonds was one of the requirements to comply with the FATF conditions, for which the government started with first withdrawing Rs40,000 bearer bonds in June 2019. Pakistan remains on the FATF grey list and the next review of the task force is scheduled for June 2021.
The finance ministry on December 9, 2020 announced it would stop issuing Rs25,000 denomination bearer prize bonds and further instructed the bonds could not be cashed or redeemed after May 31, 2021. Since the announcement, the outstanding stock of this bearer bond reduced to Rs41 billion by end of February 2021 as compared with Rs101 billion in December 2020, according to statistics released b ....

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