CHAPTER 1

INTRODUCTION
1.1 BACKGROUND OF STUDY The Zarai Taraqiati Bank Limited is the premier financial institution geared towards the development of agriculture sector by providing financial products and services to their customers. It is a common practice at universities during the completion of the masters and bachelors program to attain practical experience in different fields. Students are required to undergo an internship program of two months to fulfill the requirement for their degree completion. The selection of the firm is based on the choice of the student. The institute requires an internship report based on the theoretical and practical learning of the student. The Internship is the bridge between academic qualification and professional career of fresh graduates. This internship report is mainly focused on the working of the Finance division of ZTBL. Moreover, the internship is a unique aspect of education that integrates study with planned and supervised career-related work experience. The students are involved as non-paid authentic employees receiving academic credit for work experiences. The purpose of the internship program is to develop and strengthen the students educational and career preparation. By doing internship in any organization obviously exposes the interpersonal relationships not only with employees but also with supervisor that are essential in obtaining a successful and satisfying career. 1.2 PURPOSE OF THE STUDY The purpose of conducting this study is to develop some insight into the working of the Finance division of ZTBL and to gain the experience regarding the overall operations and procedures of the bank, in order to complete the BBA (Hons) Finance, degree as well. The purpose of the internship program is to develop and strengthen the students educational and career preparation, which they gain from university. Another important aspect of the internship program is that internee is placed to various departments. It provides a glance of each department, as the period is too short for learning in detail. Other objectives of the study are as follows:

1. To gather relevant information then interpret and analyze it in a useful manner. 2. To highlight the facilities and products offered by the ZTBL to its customers. 3. Internship can develop good work habits and to reduce student dropouts. 4. To develop, enhance and strengthen the communication skills. 5. To observe and participate in a professional work situation which represents an area of career interest. 6. To develop an understanding of the organization, its mission, objectives and management philosophy. 7. To acquire good work habits and gain an awareness of the communitys vast resources. 8. To be responsible and work toward specific achievable goals. 9. To analyze the bank through different analysis such as Ratio & SWOT analysis.

1.3

SCOPE OF THE STUDY The scope of the conducting this study is given as under; 1. It is a compulsory requirement for the award of Bachelors Degree in Business Administration from the IBMS KP, Agricultural University Peshawar. 2. This report is concerned with the performance, functions and objectives of the Finance Department of the ZTBL Chota Lahore Branch Swabi. 3. It will help the students in making assignments and writing reports on the ZTBL. 4. It can provide help to the management of the ZTBL in identifying their Strengths, Weaknesses, Opportunities and Threats. 5.

6. It can provide help to the management of the ZTBL in recruiting, selection, training and performance evaluation. 1.4 METHODOLOGY OF RESEARCH During the internship at the ZTBL Chota Lahore Branch Swabi, the most important task was to collect as much as information on the bank in order to have a full productive report. For the collection of information and data, I used two methods which are given as under; Primary Data Collections: In primary data collection method, I interviewed different officers for this purpose. The interviews were not of formal nature but it went along with time and the questions arose with identification of problems. I prepared many questions and discuses with Bank officers asked all the detailed function and procedures of there departments. All officers fully cooperated with me and provided all the necessary information which was required to me. The interviews have been taken from the bank officers and also the discussion was conducted with the heads of different departments. For collecting primary data, I use my own observation and discuss my problems with previous internees. Secondary Data Collection: The data that are previously collected and assembled for the some projects other than the one at hand. It is also called as historical data. This method can almost always be gathered faster and at a lower cost than primary data. The secondary data is collected from following sources; 7. 8. 9. Annual Reports & Accounts manual. ZTBL web site & Internet. Brochures.

10. Pamphlets. 11. Newspapers. 12. Business journals. 13. Books.

1.5

SCHEME OF THE REPORT The internship report on the Finance of the ZTBL is arranged in 6 chapters. The

report is arranged in the following sequence. Chapter 1: This is an introductory chapter which describes the introduction, background, purpose, scope, research methodology, limitations and scheme of the report. Chapter 2: This chapter includes brief history of ZTBL, nature of ZTBL, business volume, product lines, competitors, and brief introduction of the branch where I did my internship. Chapter 3: This chapter briefly describes the hierarchy chart of ZTBL, numbers of employees, main offices of ZTBL and introduction of the finance department of ZTBL and its functions. Chapter 4: This chapter is concerns with the comparison and evaluation of the current strategies of ZTBL. It also includes comparison of our theoretical concepts and current strategies carried out by ZTBL. Chapter 5: This chapter describes the SWOT analysis of ZTBL. Chapter 6: This chapter describes conclusion and recommendations about the ZTBL.

CHAPTER 2

OVERVIEW OF THE ORGANIZATION

2.1 BRIEF HISTORY OF ZTBL It was considered after independence of Pakistan that the existing institutional sources of credit, such as, taccavi and cooperatives, were insufficiently meeting the credit needs of farmers. Therefore the need for establishment of a third source of agricultural credit was essentially percolated so as to fulfill the credit requirements of farmers not only for production but even for the development purposes. Consequently, the ADFC was brought into existence in 1952 for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in Pakistan. Subsequently in 1957, the ABP was established that can provide both short term loan for production and long term loan for development. The ADFC & ABP were merged together as the ADPB on 18th February 1961. The ADPB is the main credit supplier to the agriculture sector in the country. According to the Companies Ordinance 1984, the ZTBL was incorporated as a public limited company on 23th October, 2002. The ZTBL is governed by Memorandum and Article of Association and registered with the SECP under Companies Ordinance 1984. Consequently, on 18th November, 2002, all the assets, contracts, liabilities, proceedings and undertakings of the ADPB were transferred and vested in the ZTBL on 14th December, 2002 by the Federal Government. 2.2 NATURE OF ZTBL The main purpose of the ZTBL is to provide sustainable rural finance and services particularly to small farmers and low-income households to strengthen the rural and agricultural sector, mitigate poverty, capital market and investment activities and other banking business. Products and services
1. 2. 3.

Supervised Agricultural Credit Scheme Deposits (Fixed, Saving, Current Accounts & Zarai Bachaat Scheme) Micro Credit Scheme 5

4. 5. 6. 7.

Credit to Women Program One Window Operation Revolving Finance Scheme (RFS)/Sada Bahar Scheme (SBS) Crop Maximization Project BUSINESS VOLUME OF ZTBL Zarai Taraqiati Bank Limited (ZTBL) has recovered 89 percent of agriculture

2.3

loans in 2010 against 86 percent in 2009 and 81 percent in 2008 respectively. Recovery of agriculture loans of the Bank stood at Rs 69.5 billion during 2010 against Rs 58 billion and Rs 65.9 billion during 2008 and 2009 respectively. During the year 2010 loans amounting to Rs 77.6 billion were disbursed as compared to Rs 55.9 billion during the year 2008 with a 26 percent growth. While, Rs 70.6 billion loans were disbursed in the year 2009. For the calendar year 2010 ZTBL had planned a credit target of Rs 75 billion against which loans of Rs 77.6 billion have been disbursed with a pace of 104 percent by the end of the year 2010. By this the bank not only achieved the given target but surpassed with a margin of about Rs 2 billion. The non-performing Loans (NPLs) indicate a very significant indicator depicting intrinsic health of the financial institution in banking sector. In ZTBL NPLs were 29.4 percent of portfolios at the beginning of year 2008, which has significantly reduced to 14.4 percent at the end of 2010. The reduction in cumulative NPLs by the extent of 14.9 percent is excellent, which brought it to the lowest level. ZTBL is extending its all out efforts to enhance the deposit volume to strengthen its resources for the maximum coverage of credit needs of the farming community. Although it was increased from Rs 4.3 billion in 2008 to Rs 8.8 billion in 2010 with over 100 percent growth. The profit of ZTBL stood at Rs 4.9 billion in 2010 against Rs 3.9 billion and Rs 1.7 billion during 2009 and 2008 respectively. The agriculture credit provision to the borrowers has increased to 567, 415 borrowers in 2010 as against 475,000 in 2008.

As tractor plays important role in productivity enhancement as well as transportation so special emphasis was given on tractor financing, which was increased to 21,609 during 2010 as compared to 10,275 in 2008. For the first time in the history of the bank, steps were taken to arrange enlisting the bank for receipt of Hajj applications and bank successfully handled the Hajj Operations 2009 and earned profit of Rs 4 million. The Deposit Solicitation has been activated and expected to achieve Deposit Target of Rs 50 billion till 2012. 2.4 PRODUCTS & SERVICES OF ZTBL ZTBL has provided many products and services for their customers. The product and services of ZTBL can raise the living standards of rural areas and develop the agriculture sectors of a country as well. Pakistan is an agriculture country and the products and services of ZTBL plays very important role in increasing the GDP and accelerates economic growth. For this purpose, ZTBL provides many facilities for their customers, such as provides schemes and loans, obviously help the customers to invest money in their businesses, to get maximum profit from it and to pay low interest rates. 2.5 SCHEMES OF ZTBL The ZTBL provides various schemes for customers, in order to strengthen the rural and agricultural sector of econnomy, mitigate poverty and accelerate growth. The Schemes of the ZTBL are briefly explained as under; a. Sairab Pakistan Scheme The ZTBL can raise the irrigated area for the purpose to accelerate the rate of economic growth and to facilitate the farmers. The ZTBL has assigned the collaboration agreement with the KSB Pumps Company Limited under the Sairab Pakistan Scheme. The ZTBL will provide loans to the farmers for installation of tube wells and turbines whereas KSB Pumps Company Limited will provide quality pumps, turbines and equipments to borrowers for efficient pumping of waters. The water can plays vital role to improve per acre yield. Out of total 31 million hectors area of the Pakistan, 22 million hectors is cultivated while 9 million hectors is not cultivated & waste mainly due to non-availability of water. More over increase in

water supply being a key input is required to raise cropping intensity and hence the income of the farmer. Since inception the ZTBL financed over 143000 tube wells amounting to Rs.15 billion. The KSB Pumps Company will provide quality machinery and equipments for efficient pumping of water. The company will also provide after sale services including replacement of parts and availability of spares through its network of dealers. Despite technological advancements and rapid growth of industrial sector, agriculture is still the back bone of the Pakistan's economy. It contributes 22% towards the GDP and employs nearly 45% of country's labor force. b. Supervised Agriculture Credit Scheme Under this scheme agriculture loans are given for short, medium and long term up to Rs.1 million per borrower. The loans are sanctioned for fats, livestock, orchard, tractor, agricultural machinery, tube well and irrigation facilities. Under the scheme besides provision of credit, information are given to the farmers for planning the farm production, guidance for implementation of the scheme, marketing and repayment of loans. c. White Revolution Scheme In order to modernize the dairy farming for increasing milk supply, mitigate poverty and improving the living standards of the rural areas in Pakistan for the purpose to achieve growth and development in agriculture sector of Pakistan, the ZTBL may start the Strategic Partnership agreement with the Pakistan Dairy Development Company (PDDC) and the Nestle Pakistan Limited (NPL) under the white revolution scheme. Under this participatory approach, the diary sector would be modernized with a view to increase milk supply, mitigate poverty and improve the living standard of the rural population. The ZTBL has earmarked funds to the tune of Rs.5000 millions for financing of 50,000 animals (buffaloes and imported cows) during the five years period 2007 to 2011. The PDDC will also help the ZTBL in the selection of clients and processing of loan cases. Initially the schemes will be for modernization of 5000 farmers during 5 years period involving Rs.700 million. The Nestle Pakistan Limited would help to select and identify good clients for the ZTBL to improve quality breed of foreign and local dairy animals. The NPL can provide technical guidance to the farmers through nestle veterinary doctors. The NPL

would purchase milk through its network and make weekly payments of milk sale to the ZTBL for the adjustment of loan. d. Micro Credit Scheme This Scheme has been launched since 15th July, 2000 for the uplift of rural poor. The landless poor such as; tillers, harries and small land owners having land not exceeding 2 acres may avail loan under Micro Credit Scheme. It is operational in all branches of the ZTBL through all the Mobile Credit Officers. Both men and women may obtain loans under the scheme as an individual or as a member of group of 5-10 members. The minimum credit limit is Rs. 5,000 while maximum credit limit is Rs.25, 000. The loan may be advanced against one surety with 50% solvency of the assessed value of property owned by the guarantor or security of tangible property. Being small loans involving high cost 18% per annum mark-up is charged, whereas 2% rebate is given on timely repayment. All loans under these Schemes are recoverable within 18 months after disbursement of loan. e. Zarkhaiz Scheme (One Window Operation) For timely and conveniently provision of credit to purchase inputs, loans are provided to the borrowers under this scheme being conducted twice a week during Rabi & Kharif seasons. All the related departments such as revenue, agriculture, post office.etc attend the focal points which are established at convenient places. The farmers get their pass books prepared and loan applications processed on the same day whereas sanction payments are made within three days at branch. For Rabi crops, one window operation from October to January and for Kharif crops from April to September each year which is extendable as per requirement of particular area. f. Sada Bahar Scheme For providing timely input loans for crops and working capital for poultry and fishery etc, the ZTBL has launched a Sada Bahar Scheme. This scheme is also known as Revolving Finance Scheme. The assessment for inputs requirements for the whole year is made at the time of first application. The amount so assessed is treated as revolving limit, provided it is within the security limit. The managers are authorized to sanction such loan limits up to Rs.5 Lake. The salient features of the scheme are given as under: 9

1.

Revolving Credit Limit is fixed to cater production credit and ancillary requirements of the farmers during one year period.

2.

The borrowers can draw the credit in lump sum or in installments according to his requirement.

3.

The borrowers can repay in lump sum or in installments during the year when his cash position allows him.

4.

The Pass Book containing transactions in his account is supplied to every borrower free of cost.

g. Tea Financing Scheme In order to increase the tea cultivation in Mansehra, Swat, Mutta and Dir in Malakand Division, the tea financing scheme has been introduced which would not only save the hard earned foreign exchange but would also help to improve the socioeconomic condition and living standard of the inhabitants of the area. The salient features of the scheme are given as under: 1. 2. 3. The maximum credit ceiling of Rs.60,000 per acre has been fixed. All the farmers owing land up to five acres are eligible to avail loans. The amount of credit will be given in three installments; the first year installment is Rs.30,000, second year installment is Rs.15,000 and installment is year Rs.15,000. 4. The credit would be repayable within 11 years with 6 years grace period with prescribed markup of 9% per annum. third

10

2.7

COMPETITORS OF ZTBL The main competitors of ZTBL are as under: 1. Commercial Banks These banks are engaged in performing the routine duties of banking business.

They collect surplus money from the people. They make loans and advances in the form of overdrafts, cash credits, discounting bills of exchange. The commercial banks also manufacture credit money. They also provide agency services and general utility services. These banks are considered the lifeblood of the economic society. Some commercial banks are owned and controlled by the government which is called as public sector banks. For e.g., NBP, HBL, UBLetc while other commercial banks that are owned by corporations is called as private sectors banks. For e.g., MCB, ABL, City Banketc. 2. Exchange Banks As name signifies, these banks mainly deal with international trade. These banks take the responsibility of settlement of foreign exchange and arrange the foreign business. In Pakistan, all the nationalized commercial banks have been allowed to do the business of exchange banks. 3. Saving Banks Saving banks are those banks which collect and keep the small savings of the public. They are called also thrift promoting institutions. The saving banks invest the funds in the safest government securities. The Post offices and saving centers perform the business of saving banks in Pakistan. 4. Industrial Banks The industrial banks mainly provide medium and long term credit to the industries. Since the industrial banks have long term deposits, they are in a position to permit long term investment in industries. In Pakistan, the Industrial Development Bank was set up in 1961. The other institutions engaged in providing financial assistance to industries are PICIC, NDFC.etc.

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2.8

BRIEF INTRODUCTION OF THE BRANCH WHERE I DID MY INTERNSHIP

As I mention above that ZTBL have multiple branches throughout Pakistan so I did my internship in the ZTBL Chota Lahore Branch, Swabi this branch is located at the Chota Lahore. This branch provide all the financial facilities to the all the residence of that area. Like the other branches of ZTBL it also provides the deposit facilities and advancing loans to its loyal customers. It also provides the remittances, online fund transfer and cheque clearance facilities and have approximately more then 3000 Account holders. In the staff of this branch includes Manager, Operation manager, computer operation officer, clerical staff, cashiers and non managerial staff.

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CHAPTER 3 ORGANIZATIONAL STRUCTURE

3.1 ORGANIZATIONAL HIERARCHY CHART OF ZTBL

The organizational hierarchy chart of the ZTBL is shown in below diagram; Fig. 3.1

3.2

NUMBER OF EMPLOYEES IN ZTBL The ZTBL has a subsidiary which is known as the Kissan Support Services

Limited. It was incorporated as owned subsidiary of the ZTBL that function independently effective from 1st January 2006. The KSSL is a separate and distinct legal entity that is controlled by the ZTBL. The KSSL has an authorized capital of Rs.100 million. Its aim is to provide a support to the management of the ZTBL such as to focus on core banking business and assign non-core activities. The KSSL operates under the Memorandum and Article of Association.

13

The KSSL has recruited and developed support staff of following table categories in ZTBL, Head Office as well as in field offices; Table 3.1 S.No. 01 02 03 04 05 06 07 08 09 Number of employees Category of Employees Provided Darbans and Armed Guards Drivers Naib Qasids Mali / Beldars Typists, Assistants & Senior Assistants Security Supervisor Sweepers Players Others Total No. of Employees 526 291 54 25 41 03 07 20 15 982

3.2.1 Board of Directors The ZTBL has one chairman, one president and ten directors. The seven meetings of the board are held during each year. The main responsibility of the BOD is to establish and maintain a system of internal control, prepare and present the financial statements with approved accounting standard and requirement of the Banking Companies Ordinance, 1962 and the Companies Ordinance 1984. The new corporate structure redefines the bank's status as the Public Limited Company registered under Companies Ordinance 1984, with an independent BOD which aims at ensuring good governance, autonomy, delivering high quality. The list of the BOD is given as under; Table 3.2 List of Board of Director

14

3.3

MAIN OFFICES OF ZTBL In public sector, the ZTBL is largest financial development institution with a

wide network of 25 zonal offices and 342 branches in the Pakistan. The head office of ZTBL is located in Blue Area Islamabad. The network of the ZTBL Head Office is given as under; Table 3.3 S.No. 1 2 3 4 5 6 Main offices Zonal offices 12 6 4 3 25 Branches 159 87 50 34 7 5 342

Province Punjab Sindh KP Balochistan Azad Kashmir Festerally Administrated Northern Areas Total

3.4

INTRODUCTION OF THE DEPARTMENTS

Control or main Books consist of the following: i. Day Book. ii. General Ledger. iii. Daily cash and transfer transaction scroll. iv. General Ledger Abstract. v. Statement of Affairs. Where the branch are fully computerized, Day Book and General Ledger are not maintained but are produced by the Computer any how some detail of these books are as Under.

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3.4.1 Day Book or journal It is a basic book used in the bank in which all types of daily transaction are recorded. Transaction made wide Debit Cash Voucher, Credit Cash Voucher and Transfer Voucher are recorded in Day Book accordingly. In short it is like a Journal. 3.4.2 General Ledger or Ledger It collects all the information or transaction from Day Book, which recorded separately in General Ledger or Ledger. In other words Day Book transactions are posted to General ledger. It also shows Debit and Credit position of each loan case or account. 3.4.3 Daily Cash and transfer transaction It is a Book or Scroll, which shows transaction regarding the cash/money and other transfer transaction in each and every Account. 3.4.4 General Ledger Abstract or Trial Balance It is an Account which does not maintained under the branch but it is provides by the Regional Branch after finished of the week. Under this Ledger a few account are maintained. It shows the Closing Blanches of each item in the end of the week. 3.4.5 Statement of Affairs It is like a General Ledger Abstract and provides by Regional Branch after the end of each month. It shows the closing balances of each item in the end of the month. Under this Book all the item are given in detail.

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3.5

SUBSIDIARY BOOKS/ SUPPLEMENTARY LEDGERS The second categories of books are known as "Subsidiary Books" which

includes: 3.5.1 Current Account Ledger It is a book of account used in the bank. This Ledger used for recording all the transaction of the Current Account. It means that all the transaction of the opening of Account in the bank is recorded. 3.5.2 Income Account It is another book in which all the transaction of the income are recorded occurred during the transaction of the bank. 3.5.3 Expense Account It is an account, which is used for recording all the expense of the bank, occurred. 3.5.4 Sundry Deposit Account It is a kind of Account used in the bank at certain type of money temporary depositing in sundry Account for specific purpose repaid /adjusted after fulfillment of same purpose. It is spare pocket of the bank. Amount kept in Sundry Deposit will be payable i.e. self-contribution, recovery deduct above the due amount wrongly etc. 3.5.5 Suspense Account It is a kind of Account, which is used in the bank that the amount temporary withdrawn for a specific purpose, which is lather on, recovered or adjusted. Amount of suspense account will be recoverable i.e. advance payment for training, advance fee, advance bill etc. 3.5.6 Bank Reconciliation Account It is another book of account maintain in the bank. Normally ZTBL of Regional Office Peshawar Deposit and withdraw the amount from Muslim

17

Commercial Bank Ltd. So this account is maintained to reconcile the passbook of ZTBL Regional Office Peshawar with the cashbook of Muslim Commercial Bank Peshawar. 3.5.7 Staff Ledger Account It is a kind of account used in the bank for maintaining the salary of the staff of the bank of ZTBL Regional Office Peshawar. 3.6 REGISTERS In addition to Book of Accounts of Control Books and Subsidiary Books branch are required to maintained the following Registered: 3.6.1 Stock Register It is a registered maintain in the bank for recording all the stationary of stock in the bank. It shown the position of stationary of consumes and remains in the stock and regarding this information bank make order for the stationary to the Head office to deliver these stationary recording to their requirement. 3.6.2 Token Register In the bank payer are gives a token this token are shown to cashier in order to make payment to required person. The number of these Token are five. Token are gives to cheque i.e. (3291 to 3295) and recorded .in the register is known as Token Register. 3.6.3 Cheques or Receipt Books Register It is a register used in the bank for the purpose of recording of cheques or receipt. If Branch received the cheques or receipt then recorded in the register. These cheque or receipts are issued to account section and MCO (Mobile Credit Officers). Cheque is issued to account section in order to make payment to the loany and receipt is issued to MCO in order to received recovery and received LA fee (loan application fee), LA form and postal charges. In short all these are recorded in a register is known as Cheques or Receipt Books Register.
18

3.6.4 Payroll Register It is a register in which the salaries of the staff of ZTBL Regional Office Peshawar are recorded. In this register all the deduction and addition in the salary of the staff of the branch are recorded in the details. 3.6.5 Dispatch Register It is a register which is used for the purpose of recording of all the dispatched. If the loan are sanction to the farmer than 3 copies of sanction letter are prepared out of this one copy is send to Regional Manager office, one copy is send to farmer, one copy is retain in branch for the record of former. So all these dispatch are recorded an a register is known as Dispatch Register. 3.6.6 Receipt Dairy Register It is a register, which is used for recording all the receipt of letter. 3.6.7 Balance Book Register It is a register that is used for the purpose of recording of balance of Current Account, PLS and Term Deposit Account at the end of each month. 3.6.8 Keys Register In ZTBL Regional Office Peshawar there are 4 Keys and these keys are delivering to different employee. So this register are used for the purpose of recording the key and the name of employee to whom delivered the key. 3.6.9 Safe File Register It is a register in which some records of the farmers are kept to whom the loan sanction. It consists of the information about date of entry on payment, loan case no., name and full address of the borrowers and total amount.

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3.6.10 Loan Application Register It is a register that is used for the recording of loan case of the former. It consist of all the records of the former i.e. date of receipts of application, amount sanctions, loan case no. And address of the loany or former. 3.6.11 Daily Basis Closing Cash Blanches Register It is another register in which all the closing cash balances in the end of the day are recorded. It consists of recording all the currency at the shape of number. 3.6.12 Cash Safe Register It is another register used in the ZTBL Regional Office Peshawar. It is also called night safe register because this register are maintains and recorded the transaction in the end of the day and at the beginning of day. It consists of three columns In, Out and balance. If transactions during the day are finished than it recorded in the In & Balance Columns. On other hand at the beginning of the day it recorded in the Out column. 3.6.13 Staff Register It is another register used in the Bank. In this register all the transaction i.e. Salary Transfer, deposits of cash and withdrawals of cash all these entries of the bank staff are made in this Register. 3.6.14 Daily Cash Transaction Register Another register name is daily cash transaction register. It is used for recording of all the transaction of payment and receipts are made recording during the day. In this register first of opening balance broad forward are recorded rather than other receipts and payment.

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3.7

TYPES OF ACCOUNTS AND VOUCHER

3.7.1 TYPES OF ACCOUNTS The ZTBL used three types of accounts. These accounts are mentioned below: 1) 2) 3) Current Account. Profit and Loss Sharing Account. Business Deposit Account.

These three types of accounts discussed below in detail one by one. 3.7.1.1 Current Account Current account is the account that is open by ZTBL from Rs, 500. This is an account in which account holder has deposit or withdrawals cash at any time as he wish. The ZTBL does not paid any interest on current account to account holder because it may be withdrawals at any time. In current account has no fixed period of time. Current account holder has withdrawals cash at any time according to the need and demand. 3.7.1.2 Profit and Loss Sharing Account Profit and loss sharing account is an account that is open by ZTBL from Rs, 500. PLS account holder has paid interest after six month. Interest depend upon on the profit of the bank if profit is high interest will be high and if profit is low interest will be low. In case of loss it also share with account holder because it name indicate that profit and loss will be shared. PLS has no fixed duration or time. Account holders of PLS can withdrawals cash at any time as he wish. 3.7.1.3 Business Deposit Account Business deposit account is an account that is open by ZTBL from Rs, 10000. The Bank paid interest to the account holder of business deposit account after six month. Interests on such account also depend upon on profit. If profit is high interest will be high on other hand if profit is low interest will
21

be low. Account holder of business deposit withdrawals cash at any time there is no fixed duration for deposit. 3.8 VOUCHERS A voucher being the transaction accounting tools is'an important document. No Debit\Credit transfer transaction can be effected recorded in the banks books of accounts unless the respective voucher supports it. Vouchers preparation\signing\ handing, therefore, warrants special care e.g. 1. To carefully prepare\ check and sign all types of vouchers and ensure

that the following general instructions\ practices are observed in this regard: a) The officer making vouchers will (as general procedure) be different from the signing officers". One of the two signing officers of vouchers must be Manager\ Sub-Manager\ Operation officer. b) The cashier shall not prepare debit and cash vouchers. c) The narration of vouchers should be precise but complete. d) Vouchers regarding debit to loan accounts cash with

banker\expenses\income\suspense\sundry\deposit accounts must be signed by the manager. The sub-manager shall sign these vouchers in lieu of manager during his short absence on leave tour observing of course limitations in accounts manual and subject confirmation by to subsequent

countersignatures (Devolving responsibility of

signatures) of manager. e) Vouchers\ cheques shall be signed by authorized signatures as per their passing powers. f) Before signing vouchers the signing officers shall check all entries and also ensure that proper and correct codes are incorporated (where applicable) in the vouchers.

22

g) The carbon papers used while preparing vouchers shall be removed before signing the vouchers signing officers shall make their signature in ink on all copies of vouchers. To ensure that the Word Canceled shall be written on all copies of canceled vouchers. To ensure that all the voucher of a day are stitched together along with daily cash transactions register (ACF-34) sheet under cover of a duly sealed wrapper and that detail of all vouchers is recorded on face of the wrapper as well as in vouchers register maintained month\ date-wise and initialed jointly by operation officer and Manager\ Sub-Manager. To ensure safe custody of the daily vouchers and also the Dr-Cash voucher Book not in use which require extra care loss misplacement of vouchers if any shall be reported procedurally to RM\ HO and duplicate of lost vouchers shall be reconstructed after permission of head office. 3.9 TYPES OF LOANS There are many types of loan provided by ZTBL for the development of agriculture sector in Pakistan. 3.9.1 Production Loan The main objectives of ZTBL to increase Agriculture production in the county. There are many types of Loan provided by ZTBL for the boosting of agriculture production Known as production loan. Which are discussed below in detail. 3.9.2 Surety Loan This type of loan provide by the bank for a short period of time. It is also called short-term loan. It is given for the period of six months. This type of loan is provided against securities. The maximum limit of short-term loan is twenty-five thousands. The bank will recover the loan after six months in

23

lumsum with interest. It is payable on the due dates, 7th January and 7th July every year. It is provided for the purpose of Seeds, Fertilizers and Pesticides. 3.9.3 Secured Loan This type of loan is provided against the security of agriculture land. It is also called medium term loan. In this type of loan maximum limit is five laces. The loan is provided for three years for example revolving loan, revolving means that it will be renewed after six month. 3.9.4 Land Leveling loan This type of loan is provided on the basis of Acres. The purpose of this type of loan is to enable the land for agriculture. This type of loan is providing for the period of five years and each installment is paid yearly. The first two years the bank will be received the principle amount of installment but the farmers cannot pay any interest. The principle amount is divided on the remaining three years and paid every years.

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CHAPTER 4 CRITICAL ANALYSIS

This Chapter is about the critical and financial analysis of ZTBL. Financial Analysis is an evaluation of a firms past performance and its prospects for the future. It consists of applying analytical tools and techniques to financial statements and other relevant data to obtain useful information. Its main purpose is to give a clear picture of the financial position of an organization. It includes Consolidated Statement of Financial Position, Consolidated Profit and Loss Account Statement, Consolidated Statement of Comprehensive Income, Consolidated Cash Flow Statement and Ratio Analysis. These financial statements are responsibility of the Banks management. The auditors responsibility is to express their opinion on these financial statements based on their audit. 4.1 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position Assets 2011 (Rupees '000') Cash and balances with treasury banks Balances with other banks Lendings to financial institutions Investments Advances Operating fixed assets Intangible assets Deferred tax assets net Other assets 7,969,044 1,486,560 14,666,918 47,786,041 60,861,513 2,722,863 3,785,755 10,958,166 4,588,151 154,825,011 Liabilities Bills payable Borrowings 25 1,738,422 47,382,031 1,335,493 42,361,934

Table 4.1

2010 (Rupees '000') 8,836,474 2,952,593 6,429,166 50,209,083 74,583,584 2,751,703 4,147,736 9,395,264 5,251,463 164,557,066

Deposits and other accounts Sub-ordinate loans Liabilities against assets subject to finance lease Deferred tax liabilities Other liabilities

85,472,247 3,994,400 -

99,111,741 3,996,000 -

2,574,241 141,161,341

3,866,958 150,672,126 13,884,940

Net Assets Source: Annual Report 2011

13,663,670

4.2

CONSOLIDATED PROFIT AND LOSS ACCOUNT STATEMENT

Table 4.2

Consolidated Profit and Loss Account Statement 2011 2010 (Rupees '000') (Rupees '000') 16,482,767 13,467,526 3,015,241 9,872,524

Mark-up / Return / Interest earned Mark-up / Return / Interest expensed Net Mark-up / Interest Income Provision against non-performing loans and advances Provision for diminution in the value of investments Bad debts written off directly

14,250,121 12,155,613 2,094,508 2,355,074

178,913

115,134

15,802 (2,549,789)

53,359 (10,041,017) (7,025,776) 977,919 150,517 469,449 307,541 -

Non Mark-Up / Interest Income Fee, commission and brokerage income Dividend income Income from dealing in foreign currencies Gain on sale of securities Unrealized loss on revaluation of investments classified as held-for-trading Other income 26

(455,281) 1,024,307 137,055 526,577 273,144 (7,053)

22,854

28,348

Total Non Mark-up / Interest income Non Mark-Up/ Interest Expense Administrative expenses Other provisions / write offs Other charges Workers welfare fund Total Non Mark-up / Interest expense Share of income of associates Extraordinary / Unusual items Profit / (Loss) Before Taxation Taxation Current - Prior years - Deferred

1,976,884 1,521,603 4,823,582 200,912 42,497 (2,101) 5,064,890 51,278 (3,492,009) 202,619 30,658 (1,657,864) (1,424,587)

1,933,774 (5,092,002) 7,055,824 158,359 121,918 859 7,336,960 339,960 (12,089,002) 228,733 385,655 (2,996,630) (2,382,242) (9,706,760) (7,081,729) (16,788,489)

Profit / (Loss) After Taxation Accumulated loss brought forward Accumulated Loss Carried Forward Profit / (Loss) attributable to: Equity shareholders of the Bank Non-controlling interest

(2,067,422) (41,009,961) (43,077,383)

(2,067,422) (2,067,422)

(9,706,760) (9,706,760) (2.40)

Basic / diluted Loss per share (Rupees) Source: Annual Report 2011

(0.34)

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4.3

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Consolidated Statement of Comprehensive Income 2011 2010 (Rupees '000') (Rupees '000') (9,706,760)

Table 4.3

Profit / (Loss) after taxation for the year Other comprehensive income Total comprehensive income for the year Source: Annual Report 2011

(2,067,422)

(2,067,422) (9,706,760)

4.4

Consolidated Statement of Cash Flows

Consolidated Statements of Cash Flows 2011 (Rupees '000') Cash Flow From Operating Activities Loss before taxation (3,492,009) Dividend income (137,055) (3,629,064) Adjustments for non-cash items Depreciation 280,538 Amortization 370,534 Workers welfare fund (2,101) Gain on sale of securities (273,144) Gain on sale of operating fixed assets (2,574) Provision against non-performing 2,355,074 loans and advances Bad debts written off directly 15,802 Fixed assets written off Provision for diminution in the value 178,913 of investments Unrealized loss on revaluation of 7,053 investments classified as held-fortrading Other provisions / write offs 200,912 Share of income of associates (51,278) 3,079,729 (549,335) (Increase) / decrease in operating assets Lendings to financial institutions (8,237,752) 28

Table 4.4

2010 (Rupees '000')

(12,089,002) (150,517) (12,239,519) 394,062 371,719 859 (307,541) (464) 9,872,524 53,359 159,676 115,134 -

158,359 (339,960) 10,477,727 (1,761,792)

(747,279)

Net investments in held-for-trading securities Advances Other assets (excluding advance taxation) Increase / (decrease) in operating liabilities Bills payable Borrowings Deposits and other accounts Other liabilities (excluding current taxation) Income tax paid Net cash used in operating activities Cash Flow From Investing Activities Net Investments in available-for-sale securities Net Investments in held-to-maturity securities Net Investments in associates Dividend received Payments for capital work in progress Acquisition of property and equipment Acquisition of intangible assets Sale proceeds of property and equipment disposed of Net cash from investing activities Cash Flow From Financing Activities Redemption of sub-ordinate loans Issue of share capital Advance against proposed rights issue Dividend paid Right shares issue cost Net cash from financing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year Source: Annual Report 2011

(95,540) 11,351,195 541,631

(488,061) 1,798,010

402,929 5,020,097 (13,639,494) (1,290,521) (6,496,790) (312,508) (6,809,298) 2,277,767 (22,089) 376,351 137,055 (191,617) (62,329) (7,834) 4,103 2,511,407

(238,714) (20,161,431) 6,272,863 (741,554) (16,067,958) (872,814) (16,940,772) 10,731,652 (35,501) (808,666) 212,830 (126,035) (114,845) (4,184) 5,007 9,860,258

(1,600) 2,222,640 (86) (256,526) 1,964,428 (2,333,463) 11,789,067 9,455,604

(1,600) 6,352,360 (138) 6,350,622 (729,892) 12,518,959 11,789,067

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4.5

VERTICAL ANALYSIS Vertical analysis is the procedure of preparing and presenting common size

statements. Common size statement is one that shows the items appearing on it in percentage form as well as in dollar form. Each item is stated as a percentage of some total of which that item is a part. Table 4.5 Vertical Analysis 2010 Assets Cash and balances with treasury Lending to financial institutions Investments net Advances net Operating Fixed assets Other assets Liabilities Customer deposits Inter bank borrowings Bills payable Other liabilities Total Liabilities Share capital Reserves Un appropriated profit / (loss) Equity Surplus on revaluation of assets Total Equity Source: Annual Report 2011 3.00% 23.30% 57.70% 2.50% 4.10% 83.80% 5.00% 1.30% 2.30% 92.40% 2.30% 2.40% 1.40% 6.70% 0.80% 7.60% 7.60% 18.60% 57.20% 2.60% 4.30% 81.70% 7.30% 0.90% 2.00% 93.00% 1.80% 1.90% 2.25% 6.40% 0.60% 7.00% 9.40% 2011 9.80%

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4.6

FINANCIAL RATIO ANALYSIS Ratio analysis is an important and age-old technique of a financial analysis. It

is widely used tool of financial analysis. It is defined as the systematic use of a ratio to interpret the financial statements so that the strengths and weakness of a firm as well as its historical performance and current financial conditions, can be determined. It simplifies financial statements, helps in planning, makes inter-firm comparison possible and helps in investment decisions. 4.6.1 Liquidity Ratio: 4.6.1.1 Current Ratio Formula: Current Ratio = Current Assets Current Liabilities Table 4.6 Current Ratio Years Current Ratio 2010 1.1702 2011 1.1875 100

Interpretation Current ratio shows the firms ability to cover its current liabilities with its current assets. The higher the current ratio, the greater the firms ability to pay its bills. The ZTBL Banks current ratio has an increasing trend from year 2010 to year 2011 i.e. it rises from 1.1702 to 1.1875, which shows that its ability to cover the current liabilities has increased in the year 2009 as compared to previous years.

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4.6.1.2 Cash Ratio Formula: Cash Ratio = Cash and Cash Equivalent 100 Current Liabilities Table 4.7 Years Cash Ratio Cash Ratio 2010 0.07 2011 0.09

Interpretation Cash Ratio Measure the ability of the firm to pay its current liabilities from its available cash and cash equivalents. The overall cash position of the bank is almost same no improvement from the year 2010 to 2011 i.e. from 0.7 to 0.09. 4.6.1.3 Net Working Capital Ratio Formula: NWC = Net Working Capital 100 Total Asset Table 4.8 Years Net working Capital Ratio Net Working Capital Ratio 2010 0.1 2011 -0.25

Interpretation Net Working Capital = Current Assets Current Liabilities This NWC shows the capability of an organization to pay all its current liabilities from its current assets. Whereas the NWC ratio shows the proportion of NWC from the total assets. The net working capital ratio of ZTBL declines from the year 2010 to the year 2011.

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4.6.2 Activity Ratio 4.6.2.1 Asset Turnover Ratio Formula: Asset Turnover Ratio = Sales 100 Total Asset

Table 4.9

Asset Turnover Ratio Years 2010 0.0582 2011 0.0689

Activity Ratio

Interpretation The asset turnover ratio tells us the relative efficiency with which a firm utilizes its total assets to earn Markup/return earned. The asset turnover ratio of ZTBL Bank increased in year 2011 as compared to year 2010. The reason behind this increase is an increase in both sales and total assets. 4.6.3 Capital Structure Ratio 4.6.3.1 Debt to Asset Ratio Formula: Debt to Asset Ratio = Total Debt 100 Total Asset Table 4.10 Debt to Asset Ratio Years Capital Structure Analysis Ratios 2010 0.78 2011 0.77

Interpretation Debt to Asset Ratio shows the extent to which the companys assets are financed by debt. ZTBL Bank debt ratio decrease a little in the year 2011 as compared to the year 2010, which is because of the increase in total debt of the bank as compared to previous year.

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4.6.3.2 Debt to Equity Ratio Formula: Debt to Equity Ratio = Total Debt 100 Total Equity

Table 4.11

Debt to Equity Ratio Years 2010 0.2426 2011 0.2209

Debt to Equity Ratio

Interpretation Creditors generally like this ratio to be low. The lower the ratio the higher the level of firms financing by shareholders. This ratio shows the extent to which the firm is financed by debt. The lower the ratio the higher the level of the firms financing that is being provided by the shareholders. The debt to equity ratio has decreasing trend, which is because of the increase in total debt of the bank while increase in equity is less than proportionately.

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CHAPTER 5 SWOT ANALYSIS

The word SWOT is abbreviated to strengths, weaknesses, opportunities and threats while analysis is a tool, which is used for checking the overall performance of any organization. The SWOT analysis is a strategic planning tool used to evaluate the overall organizations strengths, weaknesses, opportunities & threats and involves specifying the objective of the organization and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The SWOT analysis is designed to help an organization from failure to success. Finally, we do the strength & opportunities because it is helpful while we avoid the weaknesses and threats which are harmful for organization, which is shown in below figure. 5.1 STRENGTHS Strengths are the attributes of the organization which are helpful in achieving the objective. In other words, strengths means, the activities that an organization does well favorable chances or positive factors in the internal environment due to which organization achieve the objective. The strengths of the ZTBL are given as under; i. The supervision and management of the ZTBL is very strong such as, step by step, effective and efficient that leads the bank toward failure to success. ii. For maintaining the employees, the ZTBL provides the facility of health, safety and employee relations & training. iii. All staff members are well mannered in attitude, communications & following the ethics. iv. The report of Jun 22, 2008, the credit rating of the ZTBL was

reaffirmed the medium to long-term entity rating of AAA (Triple A) with a stable outlook and short term rating of A-1+ (A-One Plus) assigned to the ZTBL. v. The risk management of the ZTBL is still in the process of restructuring and efforts have been put in place to adequately equip the 35

risk management function with credit review, credit risk rating and value at risk models. Pakistan is an agriculture country with major portion of its economy dependent on agricultural sector. ZTBL recognizes this responsibility and thus also caters to agriculture sector which promises high returns. vi. The ZTBL is expanding day by day because customer accepts it. Its network expanded to 342 branches and 25 zonal offices in the Pakistan, which will attract large number of customers. vii. In the age of globalization, the elevator makes it possible to save time. While the cameras in ZTBL, make the employees to stress on their work which is assigned or given. 5.2 WEAKNESSES Weaknesses are the attributes of the organization which are harmful in achieving the objective. In other words, weakness means, the activities that an organization lakes or unfavorable chances or negative factors in the internal environment due to which organization do not achieve the objective. The weakness of the ZTBL is given as under; i. The total number of employees is 5,326 in the ZTBL Head Office. In age of technology and globalization, the understaffing may cause unnecessary work burden on employees decreasing their efficiency. ii. Although the ZTBL has its own Training and Development Canter but it needs to give refreshment courses to its employees more frequently so that they came explore new dimensions and conquer worlds. iii. Promotion in the ZTBL is purely on seniority basis rather than on performance. This really de-motivates the employees because they know that it doesnt matter whether they perform well or bad. iv. Most of the employees work in a particular department and they specialize only in one department. In case of absence of one employee, any other employee cannot perform this work. In this way bank not only loses the business but also results in dissatisfaction of the customer. 36

v. The shortage of skillful labor or manpower will lead the organization from success to failure. Because in the ZTBL, there are many contract and temporary based employees that has lake of managerial & financial skills. vi. The employees working on the same position may have different degrees like B.Sc., B.A. etc which devaluate the students of MBA, BBA and other well qualified staff. So there is a lack of professional staff in different departments and lack of theoretical knowledge of the employees as well. vii. The absenteeism & turnover rate is too high thats results the conflicts in the organization. 5.3 OPPORTUNITIES Opportunities are the attributes of the organization which are helpful in achieving the objective. In other words, opportunities means, the activities that an organization does well or favorable chances or positive factors in the external environment due to which organization achieve the objective. The opportunities of the ZTBL are given as under; i. The Organization is made up three types of recourses, such as human, physical & financial resources which come from external environment. However, in the age of globalization for achieving growth, the competent, skillful and the English speaking employees are on of the requirement of the organization. ii. The ZTBL can increase the extensive advertisements of new products, services, vacancies, in order to increase customers & heir competent employees from external environment. iii. The ZTBL can start mobile credit which is the best way to effectively utilize its present resources to gain a competitive edge. iv. The ZTBL increases the amount of loan for their customers, which is five lacks, in order to attract the large number of customers. The ZTBL issue a large amount of capital to agriculture sector, in order to, utilize its resources more efficiently and to earn more profit.

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v. The ZTBL also, involves in creating public relations that will increase the image and profitability of the bank. Often, public relations are conducted through the media that is, newspapers, television, magazines, internet.etc thats attract a large number of customers. 5.4 THREATS Threats are the attributes of the organization which are harmful in achieving the objective. In other words, threats means, the activities that an organization lakes or negative factors in the external environment due to which organization do not achieve the objective. The threats of the ZTBL is given as under; i. The ZTBL can avoid discrimination because it is harmful for the bank in achieving its objective. The bank can hire the employees from external environment. The right person is for right for job will leads the organization towards failure to success. ii. The employees of the ZTBL can avoid the illegal activities in external environment that will reduce the reputation and image of the ZTBL. iii. It is the main problem that was found to be a lack of trust in the new banking channel by customer. However, effective complaint management can increase customers loyalty and trust in Internet Banking. However, the Crises Management Plan has been developed which is under review by the senior management. The objective of this plan is to have clear guidelines and communication in the event of any crises occurrence, which may threaten the safety of its staff, the security of its assets, the continuity of its operation and the reputation of the ZTBL. iv. If we interpret the current ratio of the ZTBL, it is slowly increasing from 2008 to 2010. The current ratio in 2008 lower than rest of the years which is 1.31 which means that the bank is able to pay the current liabilities 1.31 times from its current assets. In 2009, the current ratio is 1.32 and then sharply increased to 1.40 in 2010. However, the higher the current ratio, the more the bank is considered to be liquid in order to satisfy short term obligation.

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v. If we interpret the quick ratio of ZTBL, it is higher in 2008 while lower in 2009. The quick ratio of 1.0 or greater is occasionally recommended but for the organizations, the quick ratio cannot provides a better measure of overall liquidity only when a firms inventory cannot be converted into cash, because the short term investment is lower than short term financing from 2008 to 2010. vi. The NWC of the ZTBL from 2008 to 2010 is increasing gradually and has positive working capital & considering favorable, because the total current assets are greater than total current liabilities and the bank is better able to pay its short term obligation as they become due. On the other hand, if total current assets are lower than total current liabilities, the firm has negative working capital & considering unfavorable. In this case the bank is not able to pay its short term obligation as they become due. vii. It measures the firm's ability to repay long-term debt that is used in a firms capital structure. There are many ratios of leverage; i.e. debt ratio, total debt to net worth ratio & time interest earned ratio.

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CHAPTER 6

CONCLUSIONS AND RECOMENDTIONS

A two months internship program can never provide all the information about an organization. One roughly gets to spend a single week in each department. So in this section only some of the problems have been pinpointed and possible solutions have been recommended the concerned personnel of the department narrated some of these problems. The conclusion and recommendation for ZTBL Head Office are given as under;

6.4

CONSLUSION
While concluding my report, I would like to say that an internship report

normally covers one academic term and may be either paid or unpaid. The main purpose of the internship is to develop and strengthen the students educational and career preparation. I did my internship at ZTBL, working in the Finance Department. My internship goals included completing the reports assigned to me, learning about the ZTBL, which is public limited company and also developing positive relationships with employees. Some of my activities as an internee post in the ZTBL are to coordinate with employees, working on my giving tasks, performing full concentration and preparation of my internship reports. So an internship is an opportunity to gain real-life experience doing the work of an employee in your career area of interest. Ideally, this experience allows me to try out many aspects of the job and to apply skills learned in the classroom environment. An internship is any experience where students learn by taking on responsible roles as workers in organizations and observing and reflecting on what happens while they are in the workplace.

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6.2

RECOMMENDTIONS

1.

The ZTBL has to improve its recovery system in order to meet the future credit requirements.

2.

The efforts have been taken to enhance timely disbursement to small farmers with greater outreach through efficient governance which will alleviate poverty in the rural sector.

3.

Providing cheaper and timely funds to activate the entire value chain of agriculture.

4.

Branches and Mobile Credit Officers have to direct contact with the farmers and rural people therefore both are playing an important and vital role for the development and uplift of agriculture sector.

5. 6.

ZTBL has to eliminate the seniority base promotion. Un-viable branches of the bank should be closed. This will reduce the expenses of the bank.

7.

New energetic and capable recruitment have been made in order to meet the future challenges.

8.

ZTBL is also involved in political base loaning. To reduce the bad debts ZTBL has to close the chapter of the political base loaning, posting and transferring.

9.

ZTBL should take steps in order to motivate the farmer for using the latest technology in order to increase the agricultural production. There should be a proper program for this purpose keeping the illiterate farmer in mind.

10. 11.

Concentrate on small farmers instead of large farmers. A strong research and training cell should be established at country level to overcome the hurdles conform that textile exporters as well as agriculture export.

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12.

The branches, regions and the head office must connect with each other through computer system.

13.

To over come the losses of the bank and to properly and efficiently utilize the assets of the bank.

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REFERENCES
Bateman, T.S. and S. A. Scott 1996. Management Building Competitive Advantage. Third Edition. USA: Richard D. Irwin, Times Mirror Higher Education Group, Inc. ZTBL, 2009. Brochures. Chota Lahore Branch Swabi. ZTBL, 2010. Annual Balance Sheet. Chota Lahore Branch Swabi. Horne, V. James C. and Wachowicz, Jr., John M., 1998. Fundamentals of Financial Management. Tenth Edition. USA: Prentice Hall, Inc. Nasir, M. Saeed. 1998. Banking Currency and Finance, Lahore: Pakistan Kitab Markaz. Pp. 56-59. Naz, N., 1999. Internship Report on ZTBL, Department of Public Administration, IMS. Pp.12-13.

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