It
has been observed that the intercity clearing of cheques/other
instruments pertaining to government receipts is undertaken
through NIFT System, whereby cheques/other instruments
are physically sent to the issuing branches. After clearance
of the subject cheques/other instruments from issuing
branches, the amount is credited in the resident government
accounts. This process takes number of days for realization
of the government receipts.
2.
In view of the above and in order to streamline the process
and reduce turnaround time for timely realization of government
receipts, following procedure will be applicable with
effect from September 15, 2014.
3.
The banks shall specify on-line main branches in the cities
where SBP BSC Offices are operating for on-line clearance
of cheques/other instruments pertaining to government
receipts. Such information would be provided to the
office of the Director Accounts Department, SBP BSC Office,
Karachi.
4.
The NIFT/SBP BSC will lodge cheques/other instruments,
drawn on bank branches outside the city, pertaining to
government receipts in normal clearing by inserting the
appropriate local clearing stamp. The NIFT will deliver
these cheques/instruments separately bundled for ease
of identification to the banks’ specified main branches.
5.
The cheques/other instruments received for government
collection would be cleared by the designated main branches
of the banks through using on-line system instead of sending
instruments physically to the concerned branch.
6.
The banks are advised to make necessary preparations for
adopting the given procedure and to make logistic arrangements
with NIFT for identifying their main branches within the
given time line.
Please
acknowledge receipt.