CSS Forums - [NATIONAL SAVINGS OFFICER jobs in FPSC

[QUOTE=RationalistCompetitor;883029]Interview started by Madam Batool:
Introduction – Sindh Rural
Education – BBA from SZABIST, MBA Continue with First Position and studying in the second last semester on the Merit Scholarship.
Isn’t Karachi close to study there, and family lives in Hyderabad, I told my brother also studies at SZABIST and family keeps visiting on and off.
She asked, why I am interested to join this savings organization, I told her that my core interest area is finance and under finance, I am more into the investments. As national savings take the money of the people, and then safely invests into different sectors, that needs the prudent investment decision, which attracts me. National Savings offers such opportunities of investment, which is my interest area under the ambit of Finance.
Then she asked, Other than, Law & Order Situation, What are the problems faced by the Business community in Pakistan.
I told that the law and order has improved now but not as a whole but relatively is much better as compared to recent past, and then told her about the taxation system, and withholding, system, on which she said that the taxation is good, but I said, this problems keep arising again and negotiations and strikes going on together. Then told about the issues of SRO – Statutory Regulatory Orders of the FBR which favor one sector over the other, on which she asked again, about the continuously changing policies, on which I agreed to her, that lack of consistency in policies keep affecting the business community.

Then came the turn of Mr. Wajid Rana sahib, who started reading my one column published in newspaper regarding the inflation, monetary policy, and the stock market impact.
He asked about the newspaper, I told the name, Trade & Finance daily, and published from II Chandrigar Road, Karachi. Here, he asked about the word Southward Trend. I told about the Concept of the Southward and Northward trends. I told about the use of this concept in the stock market, when stocks move upwards, it is to be in the Northward direction, and when the index goes down, it is said to be in southward trend. He asked me that from which book I learned the concept of southward and northward. I told that I learned these concepts while reading Business Recorder Newspaper, as they are frequently used in the newspaper.
Then, he asked about the inflation and monetary policy related question, and its impact on the stock market. He asked if the inflation is reducing, then it will impact the monetary policy, and interest rates, and then what is feasible option to invest money, either the banks/savings or the stock markets. I first told about the savings, he then again told it is already inflation and low rates offered, here I again went to the Savings investment, because the private investments are managed by the government. The savings offered by the private banking system, offer much lower rates, but when it comes to savings like National Savings, their rates are comparatively higher, with lower risks. Then I came to the stock market investments. I told people will go to the stock market under the inflationary pressures, if they are risk takes, as the banks offer only 5-6% while stocks returns are much higher, in the form of Dividends and the Capital Gains. Then he asked what is Capital Gain? I told that it the appreciation of the stock price, and explained via an example. I said if one bought one share for Rs. 25 and held that share for six months, and share price increased to Rs. 35, then the difference of Rs. 10 is the Capital Gain.
Then he came towards the Budgeting Techniques of Net Present Value and Internal Rate of Rate. He asked which is better to judge a project, I told about the NPV and he asked why, I replied that it gives the present value of the future outcomes, which helps in the choosing the initiative.
Then he asked about the Cash Accounting and Accrual Accounting system, what is difference between them, and which is better one? I answered that the government uses the Cash Accounting System, while the Private sector uses the Accrual Accounting system, and it is more appropriate to use the accrual accounting system, as gives the holistic view.
He then asked about the Program Budget, Commitment Budge, and Zero-based budgeting. I answered about the program budgeting as it is finalized looking into specific programs and projects, while regarding commitment and zero-based budgeting, I told I have no idea and then he asked which country follows commitment budgeting. He himself then said it is by Saudi Arabia.
Then the person from National Savings Organization asked about my information about National Savings, I told him about the national savings, as it is organization which collects resources from people and invest them into different areas, and provides returns to the people.
He asked about the difference between a Bank and National Savings, I told that it is different in terms of the products, banks offer variety of products like the international trade facilitation by opening Letter of Credits (LCs), providing short-term loans and credit facilities which are not provided by the national savings. The similar functions between the banks and savings organization are in terms of the savings accounts to the customer.
He then asked about the difference between a Deposit and Savings, which I replied in terms of the Inflation Impact. The deposits are your cash present in the bank account, earning no returns but being impacted by inflation and loosing the value, but when it comes to savings, it earns returns and those returns adjust the inflation impact on your money plus generate additional returns.
Then, he asked about the difference between profit and interest, I told that the profit was the net result of your business operations and activities which you get in the end after deducting your all expenditures, while I defined Interest in terms of the savers, and lenders. For example, if you take a loan, you have to bear cost of that loan, and interest in that cost, while in terms of your investments, the return which you get on investments in the Interest income.
Then he asked about the products of the National Savings. I said there are two types of the products of the National Savings, which are National Savings Certificates and National Savings Account. The certificates are Defense Savings Certificate, Special Savings Certificate, Regular Income Certificates, and Behbood Saving Certificates.
He then asked about the Major Problems of the Business sector in Pakistan, I told about the power crisis, which affects mainly the Textile industry which is major source of revenue for Pakistan, then Gas shortage which affects the fertilizer sector as winter is approaching, it will affect more, then the taxation system is a major issue as the traders always keep negotiating with the finance minister Ishaq Dar or the FBR. These are major issues of the business sector.
Later on, he asked about the Islamic Financial System, as the Savings offer interest and my view on it. I started with the Sharia-Compliant financial system, and defined it in terms of the prohibition of riba, as mentioned in the Holy Quran. Islamic Financial Systems, operates on the basis of the Profits and dealing in the physical and halal products. Interest income is prohibited in Islam as give by the National Savings.
In the end, he asked me about my any visit to National Savings branch, I told him about my visit to a national savings center in Hyderabad, Sindh, as I belong to Hyderabad.
He said thanks with smile, and again, Wajid Rana Sb started few other questions. He asked me I was related to Kali Bux Rind, famous beaurocrate KB Rind, I told him that I m not related to him, but I know him. Then, he asked about my hometown Umerkot, and asked me whether Rind live in Umerkot. I inform that there is huge population of the Rind Baloch community in Umerkot, Sindh, plus there are two specific Union Councils named behind Rind community.
On this final note, my interviewed ended, and all of the three panel members, thanked me with BIG smiles. [/QUOTE]
@ RationalistCompetitor

Was your whole interview in enlish or sometime they use Urdu...