Accepting a representation of an aggrieved citizen against a decision of the Wafaqi Mohtasib, President Dr Arif Alvi has directed the Central Directorate of National Savings to pay profit on the Special Saving Certificates as per the profit rate prevailing at the time of purchasing the certificates.
According to President Secretariat Press Wing, the President said that Central Directorate of National Savings has committed maladministration by revising the profit rates retrospectively and in contradiction to the existing law, thus causing the citizen a loss of 5.3 million rupees.
The president accepted the representation of plaintiff Yasmin Marchant and held that the complainant was entitled to the profit rate prevailing on the date of issuance of certificates
