account
of the Federal Government which will be borne by that Government.
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APPENDIX VIII
Accounting
procedure to be followed in respect of drawings
on and by offices and branches of the State Bank.
1.
Drawings under Paragraph 2A.
Telegraphic
Transfers, Drafts and Mail Transfers for the public, Scheduled
Bank, Indigenous Bankers etc, and Government Drafts.
A.
All drawings by one office of the State Bank of Pakistan in
another will be credited by the drawing office to the office
drawn upon and debited by the paying office to the drawing
office through the State Bank of Pakistan General Account.
2.
Drawings under Paragraphs 2B and 2C.
Telegraphic
Transfers, Drafts and Mail Transfers for the public, Scheduled
Banks, Indigenous Bankers etc, Government Drafts and Dividend
Warrant Payment Orders.
The
drawing office will advise the branch of the National Bank
or the Treasury Agency in the usual manner, and will credit
the total amount of its daily drawings to the Central Accounts
Section, Karachi, through State Bank of Pakistan General Account,
under advice on a Schedule in the Form laid down in paragraph
1D of Appendix VI. The Central Accounts Section will respond
by credit to Remittance Clearance Account.
3.
Drawings under Paragraph 5A.
Telegraphic
Transfers and Drafts for the public, Scheduled Banks, Indigenous
Bankers etc., and Government Drafts.
On
presentation of the instrument, payment will be made to the
debit of the Central Accounts Section, Karachi, through State
Bank of Pakistan General Account. At the close of the day
all drawings will be listed on a Schedule and forwarded to
the Central Accounts Section,
together with an advice of the total debit passed in respect
thereof. The Central Accounts Section will respond immediately
by debit to Remittance Clearance Accounts, and will subsequently
mark off the individual payments in the schedules received
from the drawing offices through the local Accountants General.
4.
To facilitate the preparation of the schedules referred to
in paragraphs 2 and 3 above, offices will maintain Remittances
Issued and Remittances Paid registers. Only the daily totals
of these registers, which will agree with the totals of the
relative schedules, will be passed through State Bank of Pakistan
General Account, and will be shown on schedules 6 &16
respectively as described below in the Daily Statement of
General Account submitted to Central Directorate.
5.
Schedules Nos. 3,4 and 5 relating to credits to the State
Bank of Pakistan General Account in respect of Bank Drafts
and Mail Transfers issued on other offices, Government Drafts
issued on other offices,
And
Telegraphic
Transfers issued as also Schedules Nos. 13, 14 and 15 relating
to debits in respect of Bank Drafts and Mail Transfers issued
by other offices, Government Drafts issued by other offices,
And
6.
Telegraphic Transfers payable received will continue to book
credits and debits in respect of inter-branch drawings by
offices.
Credits
for Drafts, Mail Transfers and Telegraphic Transfers issued
by all offices of the Bank on National Bank offices and Treasury
Agencies will be credited to the Central Directorate by a
separate Schedule No.6 under the head "State Bank of
Pakistan Remittances Sold" All credits in respect of
drawings of Drafts, Mail Transfers and Telegraphic Transfers
on the branches of the National Bank and Treasury Agencies
will be entered under this head in the daily statement. The
relative schedule of drawings by branches sent to the Central
Accounts Section will show details of drawings but the Schedule
No. 6 sent to Central Directorate with the daily statement
will show only one total amount for all
