LAHORE: Retired employees of the Punjab Small Industries Corporation (PSIC) have appealed to teh chief minister to take notice of the “cruel policy” of the management towards pensioners.

“The Punjab government provided funds to PSIC in May 2014 to clear all outstanding amounts of pensioners, but the management is unmoved,” PSIC Pensioners’ Welfare Association President Khwaja Hameed Asghar said in an appeal on Tuesday.

The management owed its retired employees dues on account of various increases, including 75pc family pension, 7pc cost of living allowance, budgetary increases in 2012-13 and 2013-14 besides 100pc commutation as directed by the Supreme Court.

The Punjab Ombudsman office had declared withholding of these increases “maladministration, mala fide, unconstitutional and discriminatory”.

Through orders dated March 21, May 2 and Sept 5, 2013, the ombudsman ordered release of these dues immediately.

“The Punjab government released necessary funds to the PSIC management after approval of the chief minister. But the withholding of payment was engineered by the then finance and accounts director on the pretext of non-availability of funds stemming from illegal, unplanned and injudicious huge investments made from the PSIC pension funds, which is in total violation of sections 29 and 31 of the PSIC Act 1973. These investments were made for vested interests within the PSIC management to squeeze out underhand personal incentives from banks,” Khawaja added.

The PSIC board also approved payment of all dues in its 87th meeting on Nov 12, 2013 asking the management to clear the balance in its 90th meeting on Feb 27 this year.

“However, the Punjab Small Industries Corporation management is hesitant with impunity about performing its obligation,” said the association president, while requesting the chief minister to take notice.

Published in Dawn, October 7th , 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play