Tthe firs time this phrase in Pakistan was used by Daily DAWN in its Lead Editorial in 1979 when T&T introduced the so called self finance telephone connection scheme for rich but practically costing them same Rs. 1,800/- as to the poor man. But these rich under this scheme got telephone within 15 days while ordinary man waited for 15 to 20 years at an average. DAWN in its lead Editorial termed it as Legalised bribe.
Someone recently wrote to senior columnist Mr. Ahmed Nadeem Qassmi that banks had started deducting Rs. 50/- per month as service charges if balance in one’s account in a month was below Rs. 5000/-. Qassmi Sahib titling his Column “Governor State Bank may pay Attention” very rightly stated it was an injustice to majority of this country who cannot afford keeping Rs. 5000/- at all times due to Nil domestic savings today. In return the Governor State Bank replied to Qassmi Sahib that Banks are justified in levying such nominal fees for the service they render and those who cannot afford this should go to the banks which do not charge. An example was given as that of poor man’s bank. Where is that bank at the least I do not know. Has this Bank branches in every area like UBL, HBL or a poor man is to spend Rs. 50/- on rickshaw etc to save Rs. 50/- service charges. In a counter column Qassmi Sahib stated that it would had been better if Governor SBP had disclosed for public information the names of such banks. I think this question was not so important. The most important question which Qassmi Sahib should had asked to the Governor SBP was is that what is the guarantee that if people now shift their accounts to such banks indicated by the Governor, those banks all of a sudden any time in future would not start charging such services charges? After all SBP has given a “blanket” permission to banks under its Prudential Regulations allowing levy of any frees. The point raised in the first original column was deduction from those accounts having balance less than Rs. 5000/-.
Surfing the net on 12 December 2004, I came across United Bank web site. Under its General Miscellaneous column the indicating different fees charged by the Bank at serial No. 1 is postal local charges @ Rs. 25/- minimum whereas the Pakistan Post Office actually charges the UBL Rs. 4/-. Charges for a local registered item is mentioned Rs. 60/- while Pakistan Post Office charges from UBL Rs. 19/- Only. Local courier charges by the Bank is Rs.50/- whereas the most popular courier within the city of Karachi or Lahore charges Rs. 25/- from ordinary man and from bulk customers like Banks etc only Rs. 5 to Rs. 6/-.
Sometime back I got a Bank Draft in my favour issued by UBL Dubai drawn on UBL Karachi. When I deposited it into my UBL account Rs. 80/- were deducted as courier charges and Rs. 40/- as service charges. No courier service was used by the Bank as within Karachi these drafts/cheques are cleared centrally under Clearance House. For local clearance through Clearance House there had never ever been before any charge to account holder. Though no courier was used even then charging me Rs. 80/- was a day light pick-pocketing by a state organisation as TCS within Karachi at that time used to charge Rs. 20/- from ordinary man and from Banks perhaps Rs. 4 or Rs. 5/-. Service charges were charged additionally, When were those charges officially prescribed I was never informed by the Bank earlier. The government has always given an impression that home remittances from abroad were free from any levies. I raised the issue from SBP to Federal Ombudsman. What was the outcome of my this effort every one can well guess.
Nation is repeatedly told that economy is boosting and banks financial health is continuously fast improving. No body however tells are these ever increasing huge profits to Banks due to any new rationale working of the banks or due to today not paying profit to ordinary domestic savers which are in fact the back bone of a country’s economy and due to income through these deductions of Rs. 50s. The fact is as government revenue has mostly increased due to ever increasing direct or indirect taxes, likewise banks health has improved due to Licence fee levied by banks. As TV Licence, VCR Licence and so and so is levied, Banks have in fact levied a sort of Account Licence @ Rs. 50/- monthly on the ordinary man for his sin of keeping a bank account with banks which causes paper work pain to the staff.
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