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WORLD DICTIONARIES WRONG - NEED FOR CHANGE

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    WORLD DICTIONARIES WRONG - NEED FOR CHANGE



    The Federal Minister for Overseas Pakistanis Mr. Umar Asghar Khan during his tour of Saudi Arabia and UAE 3/4 months back raised often repeated slogan of "Overseas Pakistanis Pension". Now giving interview to Dubai’s Daily Khaleej Times Pakistan Day Special Supplement on 23 March this “educated new face” stated “a study is being carried out to work out details of the scheme”. During his recent middle east tour the Secretary Labour & Manpower on 24th January 2001 addressing Pakistani community in Pakistan Club Bahrain stated “Scheme will start effective July, minimum pension is being worked out but it would be minimum from Rs. 500 to Rs. 600”.

    Dictionaries whether English or Urdu define “pension” a payment which an employer or a government regularly pays to its ex-employee or senior citizen in recognition of his services. This is given from pocket of employer or government. Another form of pension called is gratuity under which an employer or government charges(or deducted from salary) a fixed monthly amount from citizen, adds simultaneously equal amount from self and deposits it into an account and this doubled money with accrued profits is handed over to citizen at maturity. OPF pension is perhaps the word’s first pension in which a worker is to pay from his own pocket, OPF is to add nothing and on maturity is to return back this amount labeling it “Pension from OPF”.

    According to this scheme if I pay eg. Rs. 500 monthly for continuous 4 years after 15 years I will get a pension of Rs. 1122/- a month (as per offcial brochure printed in 1997 by the Ministry of Labour – whereas secretary labour and minister Labour say rate of pension is being worked out!!!”. On the other hand if I use other options, one for example, start depositing same Rs. 500 a month with 100% government guaranteed Mahana Amadni Scheme of National Savings for continuous 5 years after 15 years I will be getting Rs. 2000/-.

    What a wonderful scheme is this that I will myself put my own money into it, I will get the same back in the name of pension. It is in line OPF putting feather in its cap for arranging compensation money to Pakistanis effected by Kuwait Iraq war whereas fact is this is being paid under a UNO resolution to all nationalities. OPF could had the right to get its credit had this money been only paid to Pakistanis.

    OPF has colossal amount with it as members contributions. Likewise Ministry of Foreign Affairs has a too colossal amount being collected world over form each Pakistani by Pakistani Embassies towards community welfare fund on consular services. OPF can do good if it shares Rs. 50/- from its account and Rs. 50/- from Ministry of Foreign Affairs community welfare fund and on remittance of each Rs. 1,000 by legal channel this collective Rs. 100/- are deposited into an account in Post Office jointly in the joint name of OPF and concerned overseas worker. This can be treated as an incentive or bonus voucher as was prevailing in Ayub Khan era. Till repatriation of concerned worker all these Rs 100/- would have accumulated in a substantial big amount. Worker may then be entitled to get regularly profit from this account but no right to withdraw the principal. This will encourage workers to send through legal channels, reduce hundi, both worker and country would also benefit and OPF’s dream to get name will also see the day light.

    OPF pension scheme was established and its brochure and applications forms printed in 1997. Now four years have passed and Minister and Secretary still saying scheme is being worked out. A scheme which in 4 long years could not be “worked out” how I can be confident it would be worth participating if and when it possibly started.

    This scheme was prepared on huge expense by bureaucrats (in so called political governments) and its vitality as such!. The think tank National Reconstruction Bureau of present government is doing perhaps may take this scheme from OPF and may consider to run this with proper changes jointly by State Life, Pakistan Post Office, PIA, OPF, a Bank and entitled should be only for those who are members of OPF, have obtained SLIC Emigrants Policy, always travel by PIA, remit through Pakistani banks, have bank or post office account in Pakistan so country could also benefit.


    [email protected]

    28 March 2001


    #2
    Mrs.Shehnaz,
    I haveseen your post before regarding this OPF pension.Im interested about it but .....


    May be i dont understand .You are talking about ppl. who work for PAkistan govt. or any Pakistani overseas.

    If pakistan govt. doesnt employ you should not demand any contribution from them.They can act as MUTUAL FUND be incharge of your money & administer it .They can call OPF for servicing your fubnd FREE of any commision & charge for custody management & growth of your fund.

    In America most self employed have to manage there own retirement fund & its not easy to maintain minimium groth to ovecome onflation & meet the projected groth as you know you are expected to get 1500/per month for contributing only 500/ month .There is much work in meeting that projection as future groth is always unpredictable & dependent in fluctuating ecomomy .

    ------------------

    "jo kHat main kahte they apni jaan mujhko
    aaj kHat likhne main unki jaan jaati hai .....

    Comment


      #3

      FYI


      Really I cannot understand what you say. I admit my very limitation of english language.

      Mrs. Shahnaz the writer of article is not demanding any pension or anything from the government.

      Point is my money, same is being returned to me and it is being labelled Pension.

      Overseas Pakistanis well know the financial limitations of our country (due to bag management of corrupt political governments) hence we do not accept pension etc.

      OPF started this scheme at its own. Of course there are certain limited quarters who had been voicing for pension nevertheless the way this so-called pension is being offered is of no sense. My money being taken and being returned in name of pension!! Why should not I keep my mone with me. In my hands it is more safe rather than OPF.

      It is not merely my idea but even economists have since long been saying there must be some sort of bonus voucher type scheme in which on remittances by bank government may pay say against Rs. 100 remitted an encashment of Rs. 105 which will encourage overseas Pakistanis more remittances through banking but bureaucracy never paid any attention to it rather mostly it increased more free personal baggage. What the writer in this article has suggested namely Rs. 50 from OPF fund and Rs, 50 from communit fund is a very beautual thing and needs serious thinking.

      Do not go what is in America and how unemployed manage their own funds. Talk about about Pakistan, our beloved country. If you want to give example why do not you give example of countries like Egypt for one example. India another example for medical insurance for its non resident. Do you know they day Ijazul Haq was in middle east requiring Overseas Pakistanis to donoate more for so-called "Qaraz Uttaro" the philipinies president, a country economically more poor than Pakistan, was present in same middle east station to deliver keys of constructed houses which the government constructed for its non residence.

      Overseas Pakistanis do not demand such things which are burden on country. Import of luxury cars, free import of air conditioners etc are not demand of OPs (this is demand of only 5% high class people and in fact desire of our corrupt bureaucrats and politicians who under banner of OPs encourage Khapias). OPs demands are very little and very small causing no financial burden.

      Comment


        #4
        Originally posted by S.A.J:

        FYI


        Really I cannot understand what you say. I admit my very limitation of english language.

        Mrs. Shahnaz the writer of article is not demanding any pension or anything from the government.

        Point is my money, same is being returned to me and it is being labelled Pension.

        Overseas Pakistanis well know the financial limitations of our country (due to bag management of corrupt political governments) hence we do not accept pension etc.

        OPF started this scheme at its own. Of course there are certain limited quarters who had been voicing for pension nevertheless the way this so-called pension is being offered is of no sense. My money being taken and being returned in name of pension!! Why should not I keep my mone with me. In my hands it is more safe rather than OPF.

        It is not merely my idea but even economists have since long been saying there must be some sort of bonus voucher type scheme in which on remittances by bank government may pay say against Rs. 100 remitted an encashment of Rs. 105 which will encourage overseas Pakistanis more remittances through banking but bureaucracy never paid any attention to it rather mostly it increased more free personal baggage. What the writer in this article has suggested namely Rs. 50 from OPF fund and Rs, 50 from communit fund is a very beautual thing and needs serious thinking.

        Do not go what is in America and how unemployed manage their own funds. Talk about about Pakistan, our beloved country. If you want to give example why do not you give example of countries like Egypt for one example. India another example for medical insurance for its non resident. Do you know they day Ijazul Haq was in middle east requiring Overseas Pakistanis to donoate more for so-called "Qaraz Uttaro" the philipinies president, a country economically more poor than Pakistan, was present in same middle east station to deliver keys of constructed houses which the government constructed for its non residence.

        Overseas Pakistanis do not demand such things which are burden on country. Import of luxury cars, free import of air conditioners etc are not demand of OPs (this is demand of only 5% high class people and in fact desire of our corrupt bureaucrats and politicians who under banner of OPs encourage Khapias). OPs demands are very little and very small causing no financial burden.
        SAJ,
        I must say your english is just fine.My post was ununderstandable b/c you know english but not american finance quiet understandable.

        " Why should not I keep my mone with me. In my hands it is more safe
        rather than OPF."

        I THINK YOU ARE RIGHT,YES THIS PROGRAM AS I UNDERSTAND OPF IS NOT COMPULSORY IF YOU DONT WANT TO PARTICIPATE.Voluntary participation is, if you like it ,For any reason if you dont feel comfortable or trust or feel insecure ,you dont contribute or participate in it,& keep your savings in bank fixed deposit .

        If you want govt. or any body to manage the money so that it Appreciates(increases at least interest rate prevailing)some fees or charge is deducted from your savings.

        AGAIN FINAL CHOICE IS YOURS. If you dont like it dont contribute or participate.I have no connection with Pak.Govt.

        ------------------

        "jo kHat main kahte they apni jaan mujhko
        aaj kHat likhne main unki jaan jaati hai .....

        Comment


          #5



          To: Mr. FYI


          What Mrs. Shahnaz says is a point. You are talking about Mutual Funds etc. This is what Mrs. Shahnaz says namely that taking 100% from our pockets and returning the same to us with label of "Pension" is not merely cruel but a jok. It can be labelled OP Muntual Fund, OPF Saving Scheme, OPF Waelfare Booty, OPF Monthly Scheme etc but not pension.

          Secondly you are totall wrong saying "Choice is your's". It appears you are not aware OPF is totally owned by its members. Its 100% fund which is in crores of rupees is shared and financed by OPF Members and there is not a single Rupee of government. It is not a private shop where one could say to you "Amman, take it otherwise go". It is not the question of choice.

          Pension and from our own pockets, my foot.

          Comment


            #6
            Originally posted by S.A.J:



            To: Mr. FYI


            What Mrs. Shahnaz says is a point. You are talking about Mutual Funds etc. This is what Mrs. Shahnaz says namely that taking 100% from our pockets and returning the same to us with label of "Pension" is not merely cruel but a jok. It can be labelled OP Muntual Fund, OPF Saving Scheme, OPF Waelfare Booty, OPF Monthly Scheme etc but not pension.

            Secondly you are totall wrong saying "Choice is your's". It appears you are not aware OPF is totally owned by its members. Its 100% fund which is in crores of rupees is shared and financed by OPF Members and there is not a single Rupee of government. It is not a private shop where one could say to you "Amman, take it otherwise go". It is not the question of choice.

            Pension and from our own pockets, my foot.
            Sorry ,s a j & shehnaaz,

            I couldnt help you ,but thanx for sharing your problem

            i know there are many more problems in Pakistan,than in the usa & west .I totally believe you ,what you said,for just because somthing is unreasonable here does happen in Pakistan is not new to you or me.

            But what can we do ,other than NOT trying to compare from here too much b/c things in Pakistan will not change atleast not in our lifetime .Inshallah kabh na kabh tekh ho ga ,kab pata nahi
            Walleikumassalam & allah Hafiz

            ------------------

            "jo kHat main kahte they apni jaan mujhko
            aaj kHat likhne main unki jaan jaati hai .....

            Comment

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