The Punjab government is considering investing Rs 7 billion surplus funds of the Provincial Benevolent Fund Board in the real estate instead of banking sector. Additional Chief Secretary Shamail Ahmad Khawaja presided over a meeting here on Tuesday regarding investment of surplus funds of Rs 7 billion of the Provincial Benevolent Fund Board. Secretary PBFB Sahibzadi Waseema Umar, Additional Secretary Admin S&GAD and other senior officers were present at the meeting who gave briefing regarding present situation of the investment of surplus assets of the Benevolent Board.
Shamail Ahmad Khawaja directed the Board 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 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.