KARACHI, Oct 2: Former chairman of National Press Trust Mr Qutbuddin Aziz has urged the government to implement October 1999 Act to provide facilities to senior citizens.

Speaking at a seminar held here on Wednesday under the auspices of the Geriatrics Care Foundation to mark the senior citizens’ day, he said that Islam asked for the fulfilment of elders’ needs.

The Macao Plan of the United Nations, he recalled, had been prepared especially for senior citizens.

In his keynote address, Chairman of the Employees Old-age Benefit Institution, Mr. M. Shafi Malik, highlighted importance of the day.

He said that the EOBI possessed a nation-wide network and infrastructure for the successful operation of pension scheme.

The prime objective of the institution is to disburse pension and provide other financial benefits to retired workers or survivors of deceased employees with dignity from the nearest possible place and at the earliest, he said.

He pointed out that a transparent, perfect and just system had been entrenched in all operations of the EOBI.

He indicated that the volume of contributions during 2002-03 had marked an increase up to 20.16 per cent, crossing the barrier of Rs2 billion for the first time.

He said the institution had made an investment of Rs1.5 billion in share market and received a profit of Rs650 million.

Mr Malik said that the institution had acquired controlling interest in Universal Leasing Corporation Limited by holding 72 per cent shares and getting five directors nominated on their board.

The Chairperson of Geriatrics Care Foundation, Dr Rana Mehmood, highlighted objectives and performance of the organization with reference to senior citizens’ welfare.—PPI