New rules

The old nominee rules in the National Savings Schemes (NSS) have been changed abruptly. The investors are unable to comprehend why it was necessary to change a simple system that had been working well for years. Others are of the view that the higher authorities should have taken the investors into confidence and explained to them why the existing nomination procedure could not be continued. Unfortunately this was never done. Previously, nomination papers were signed by investors and countersigned by NSS officers at the time of investments. There can be nothing more authentic and safe than that procedure of nomination.

The authorities should look into this recent change which is likely to create more problems for investors.

Farhat Asrar

Karachi