Peshawar: The Khyber Pakhtunkhwa Chief Secretary Muhammad Shehzad Arbab chaired a presentation to the boards of General Provident Investment Fund and Pension Fund at the committee room of civil secretariat, Peshawar on Thursday.
The presentation was arranged by the Khyber Pakhtunkhwa Finance Department. Those attended the presentation included secretaries finance, administration, public health engineering, members of the boards concerned and other high officers of the provincial government.
The chief secretary was given detailed presentation on the overall structure of both the funds and ways and means as how to make the funds more and more profitable for the larger interest of the government employees.
The CS was told about investment partners of both the funds, their audit and monitoring procedure and how to streamline working of the staff so far involved in supervising these funds.
The chief secretary was told that a draft investment policy had been prepared and placed before the boards for consideration. The appointment and extension in the contracts of the advisor, fund managers and other supervisory staff also came under discussion and decisions taken in this regard. Moreover, regularization of the existing Funds Cell staff was also reviewed.
The chief secretary urged the boards’ members to ensure proper audit of the funds and work out a solid strategy to make the funds more profitable as compared to the past.
He also directed that no lapses would be tolerated, proper transparent mechanism be adopted and the funds be invested in more profitable commercial institutions so that the public exchequer could get the actual benefits.