KARACHI, July 3: Sindh minister for labour and chairman, governing body of Sindh Employees Social Security Institution Mohammad Adil Siddiqui on Thursday approved the SESSI’s record surplus budget of Rs737.777 million for fiscal 2003-2004.

The major portion of the budget, Rs 464.128 million, will be spent on medical care and cash benefits to secured workers and their dependents.

The minister emphasized the need for gearing up development activities, which include addition of a 10-bed ward in Kotri Hospital, construction of a medical college and an auditorium in Karachi on a priority basis.

The minister felicitated the SESSI commissioner, Nasar Hayat, and his colleagues for a record surplus of Rs123.056 million.

The salient features of the budget are as under:

During 2003-2004, the institution anticipates a total income of Rs 737.777 million, including a S.S. contribution of Rs 688.350 million, profit on investment Rs 42.336 million and other income Rs 7.091 million.

According to the revised budget estimates for the year 2002-2003, the institution’s income stood at Rs 630.714 million.

During the current financial year, the income is expected to rise by Rs 107.063 million while expenditure is also expected go up by Rs 51.538 million which has been estimated at Rs 614.721 million. The expenditure will involve medical care Rs 434.138 million, cash benefits Rs 29.990 million, administration expenditure Rs 118.093 million, development expenditure Rs 20 million, unforeseen expenditure Rs 10 million, loans and advances Rs 2.500 million.

According to the budget, 71 per cent of the allocation, Rs 434.138 million, has been allocated for the provision of medical facilities to secured workers and their dependents.

The SESSI has established a network of 46 medical out-lets all over the province. — APP