LAHORE: Additional Chief Secretary of Punjab Irum Bukhari says the Punjab government has decided to reinvest Rs10 billion of the benevolent fund and sought mark-up rates from different banks.

The Bank of Punjab offered 7.95 per cent of markup and approval in this regard has been granted. The reinvestment of the funds on new markup rates will help fetch additional income of Rs795 million a year.

The ACS Punjab was chairing the meeting of the Benevolent Fund Board at civil secretariat on Wednesday. The meeting was attended by the Punjab Civil secretariat Employees Association president, Pension Fund general manager and the finance secretary’s representative.

The ACS said the additional income would directly benefit the government employees as it would be used for their welfare.

Published in Dawn, July 8th, 2021