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OFFICIAL SAYS PLAN WILL BE LAUNCHED SOON AFTER CLEARING TECHNICALITIES

Hopes for a new pension scheme for expatriate Keralites were dashed when the first regional conference of the Loka Kerala Sabha (World Kerala Assembly) ended yesterday without the promised announcement.

While the event was largely described as a success with initiatives being launched on Friday to safeguard women and address grievances of the expat Malayali community, the government’s failure to launch the promised lifelong dividendcum-pension scheme during the event left many disappointed.

However, a top official stated that the government has in principle approved the scheme and is set to roll it out very soon after putting in place the pending technicalities involved in launching it.

“In principle, it has been approved. It is at an advanced stage,” Dr Ellangovan, principal secretary of Non-Resident Keralites Affairs (Norka), told Gulf News.

He said the International Migration Centre, another project that was discussed at LKS, would be launched in April.

He and Tom Jose, the state’s chief secretary who is also secretary general of the LKS, said the final recommendations of the LKS standing committees will be implemented. No time frame was given though.

Kerala Chief Minister Pinarayi Vijayan assured the participants that the government would honour the recommendations of the LKS standing committees.

“We are considering them very seriously. Preliminary action has been taken on many recommendations,” he said.

Kerala Speaker P. Sreeramakrishnan said LKS is a successful experiment in the history of Indian democracy as it offered a chance for expatriates to participate in the policymaking process.

“To ensure we give participation to a wider community, 30 per cent of the members will be replaced with new ones every two years,” he added.

Earlier, the chief minister had said the lifelong monthly dividend-cum-pension scheme would be based on a onetime deposit. NRKs could invest a minimum of Rs500,000 (Dh25,952) or multiples in the new scheme. “On completion of five years, depositor or his/ her legal heir will get a monthly income,” he said.

In principle, it [the proposed lifelong dividend-cumpension scheme] has been approved. It is at an advanced stage.” Dr Ellangovan | Principal Secretary of Norka