Punjab plans to invest 7b surplus BF in real sector
LAHORE—Additional Chief Secretary Punjab Shamail Ahmad Khawaja presided over a meeting regarding investment of surplus funds of seven billion rupees of the provincial Benevolent Funds (BF).
Secretary PBFB Sahibzadi Waseema Umar, Additional Secretary Admin S&GAD and other senior officers were present.
A briefing was given to the meeting regarding present situation of the investment of surplus assets of the Benevolent Board and the facilities being provided to the visitors at the office of the Board located at Alfalah Building Lahore.
Additional Chief Secretary Shamail Ahmad Khawaja directed that other than depositing surplus funds of the Board in banking sector, the option of safe investment in real estate sector should be considered. He said that purchase of a building at a central or prime location in the provincial metropolis with the surplus funds should be looked into so that besides additional income in the form of security, the benefit of rent could also be transferred to maximum number of deserving employees. The meeting also took necessary decisions with regard to solution of problems of retired government servants and their widows within a period of one week to one month so that they could be saved from the inconvenience of visiting the office of the Board again and again. Additional Chief Secretary ordered to simplify all procedures to the maximum in this regard. He also gave instructions for keeping the lifts in Alfalah Building in a working condition so that the elderly government servants should not face any difficulty in contacting officers concerned.
APP adds: Additional Chief Secretary Punjab Shamail Ahmad Khawaja has said that surplus funds of Rs 7 billion of the Punjab Benevolent Fund Board (PBFB) should be considered to invest in the real estate sector.