Affixation of Stamps on Personal Ledger Account PLA dt 03.11.2003
OFFICE MEMORANDUM
Subject: Personal Ledger Account
I am directed to refer to the subject cited above, and to state, that it has come to the notice of the Finance Department that the persons to whom Personal Ledger Accounts cheques are issued by various Departments/ Autonomous Bodies/Local Governments etc., face problems in drawing payments, through their bank accounts, due to lack of understanding about the correct procedure.
2. I am to state that in order to facilitate early payments, the following guidelines are prescribed. It is requested that while handing over PLA cheques to a payee, he may be advised to proceed as follows…
(a) The payee should sign the cheque on its reverse.
(b) The PLA cheque may then be deposited by the payee in his bank account. with a pay-in-slip. The payee’s bank shall be required to draw the amount from the PLA maintained in the respective District Accounts Office/Treasury Office, Lahore, as the case may be, for credit to the payee’s account. This action requires (i) prior authorization of the PLA cheque by the concerned District Accounts Officer/Treasury Officer, Lahore, as the case be and (ii) realization of the amount from Bank of Pakistan, located in the district in which the PLA is operated.
The payee’s bank shall proceed by affixing the following stamps or the reverse of the cheque for sending it to its main branch located in the district in which the PLA is operated.
- Payee’s Signature Verified
- Received Payments.
- Disbursement Guaranteed
- Payees Account will be credited on realization.
(d) The main branch of the payee’s bank shall send the cheque to the concerned DAO/TO, Lahore, as the case may be, after affixing the following additional stamp on the reverse of the cheque: “Our Branch’s Endorsement Confirmed”
(e) The main branch of bank in the respective district shall collect the PLA cheque, duly authorized by the respective DAO/TO, Lahore and send it to the local SBP/NBP of the concerned district undertaking governmental transaction, for realization and collection of the proceeds of the cheque, for transfer credit to payee’s account, in the prescribed manner.
(f) The above procedure shall be equally applicable to payees’ located at Lahore, or any other city.
