Home General PM Khan approves setting up Pakistan Post Pension Fund

PM Khan approves setting up Pakistan Post Pension Fund

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ISLAMABAD: Prime Minister Imran Khan Wednesday gave in-principle approval to establishment of Pakistan Post Pension Fund for an institutionalised mechanism for disbursing of pension to retired employees.
Chairing a meeting on pension for employees of Pakistan Post, the Prime Minister also approved setting up a committee comprising representatives of Ministry of Finance, Ministry of Communications, Securities and Exchange Commission of Pakistan and National Investment Trust to finalise proposals on the Pension Fund for submission before the federal cabinet.
The Prime Minister stressed on devising pension system across the country on modern lines to meet the challenges of limited financial resources of the government and reduce burden over exchequer.
The meeting was attended by Minister for Communications Murad Saeed, Minister for Planning Asad Umar, PM’s Adviser on Finance Dr Abdul Hafeez Shaikh, Adviser on Constitutional Reforms Dr Ishrat Hussain, Secretary Finance Naveed Kamran Baloch, Director General Pakistan Post Muhammad Ikhlaq Rana and senior officials.
The meeting was informed that pension consumes around 34 percent of the budget of Pakistan Post, which is gradually increasing with time.
Pakistan Post, in line with Prime Minister’s direction to follow Malaysia’s pension model, has proposed establishment of a pension fund. The objective is to reduce the burden on the government and improve system of pension.
Murad Saeed briefed the meeting about reforms in Pakistan Post and other steps to make the institution profit-making.
The Prime Minister was apprised that the agreement on digitalization of Pakistan Post would be signed next week, under which the employees would be provided Ipads and other gadgets for biometric verification.
For the first time, the retired and elderly pensioners of Pakistan Post have been given pension at their homes, a step being appreciated worldwide including by the United Nations. On the eve of Eid, Pakistan Post is disbursing pensions in advance.
The minister said 26 valuable land have been demarcated which have been remained under no use so far. The details would be soon presented to the cabinet for using the land for positive purposes.
Imran Khan lauded minister for communications and his team on the reforms relating to Pakistan Post.
Dr Ishrat Hussain briefed about the overall pension mechanism of government employees.
Separately, Prime Minister Imran Khan said that Pakistan’s trade and economy continue to benefit from European Union’s GSP Plus agreement and expressed resolve to furthering human rights commitments in line with the international conventions.
“We intend to continue working to fulfill our commitments under the 27 international conventions we are party to, including six Human Rights Conventions, which are part of GSP Plus agreement,” he said in a series of tweets.
The Prime Minister said these commitments are beneficial for the country.
He mentioned that Pakistan has enacted a law to ensure women’s right to inheritance and is committed to enforcing laws against child labour.
He said efforts are afoot to support transgender community and filling-in legislative gaps in this regard.
Imran Khan said the initiatives such as Billion Tree Tsunami and Human Rights National Action Plan have been appreciated by the European Union.
Meanwhile, Prime Minister Imran Khan has urged the parliamentarians to keep in constant touch with people in order to resolve their problems on immediate basis.
Talking to a group of parliamentarians of national and provincial assemblies during separate meetings here on Wednesday, the Prime Minister assured that the government will utilize all possible resources to mitigate the impacts of lockdown.
The meetings discussed prevalent situation of coronavirus in the country and public welfare and development issues.
The parliamentarians lauded the vision of Prime Minister on introducing a balanced strategy of lockdown to mitigate the sufferings of daily wagers in curtailing the spread of coronavirus.
Imran Khan said that parliamentarians should ask people in their respective constituencies to take maximum precautionary steps against coronavirus. He also gave directions to members on eradication of profiteering and hoarding and to ensure availability of essential items to people.
Meanwhile, Minister for Housing and Works Tariq Bashir Cheema called on Prime Minister Imran Khan in Islamabad on Wednesday.
During the meeting, the federal minister informed the prime minister of the concerns of the Pakistan Muslim League-Quaid (PML-Q) regarding opening of 20 years old cases.
Sources said that the PML-Q demanded PM Imran to investigate the matter whether the NAB chairman opened the cases on his own or someone’s instructions.
Tariq Bashir Cheema said that PM Imran Khan has assured him of digging into the matters and will contact him. – TLTP, NNI