Objectives of National Investment Trust In Pakistan.NITL was established on November 12, 1962 under the Companies Act 1913.
OBJECTIVES:
The main objective of the trust is the mobilization of savings of the people through the sale of its Units and to invest the funds so raised in shares and debentures of sound and productive enterprises in the interest of Unit-holders. Thus it not only helps in the consolidation of savings but also goes a long way in meeting the growing financial needs of corporate sector. The return on the investments so made is distributed among the Unit-holders annually.
MANAGEMENT:
Management of the NITL is vested in the hands of board of directors consisting of managing director and six other directors representatives of shareholders, banks and financial institutions. National Bank of Pakistan Limited is the trustee of NITL.
CAPITAL:
NIT was established as joint stock company with a paid up capital of Rs. 12 lacs subscribed equally by 12 shareholders consists of Federal Government, four leading banks, three fmancia’ nstitutions, three leading Pakistan Industrialists and Pakistan Insurance Cc poration.
NETWORK:
NITL’s head office is situated in Karachi and its 23 branches arc located in Lahore, Quetta, Islamabad, Multan, Faisalabad, Mirpur and Peshawar etc.
WORKING:
The trust issues certificates called units. The amount received from the sale of units is invested in shares and debentures of financially strong corporate entities. Its performance over the years has proved that NIT is not only a sound and profitable medium of investment for small investors but it has immensely contributed to economic development of Pakistan.
