Pension scheme funds discussed

The Sharjah Consultative Council is reviewing what to do with the amount collected in the pension scheme for local government employees.

The issue, raised on Wednesday night at the session, is expected to get answers from the Amiri Diwan shortly.

"The amount is meanwhile being looked after in accordance with the laws of the land," Abdul Aziz Hassan Al Midfa, Director at the Administrations Control Depart-ment, Sharjah Government, reassured members.

Acting on a query raised by Mohammed bin Abdullah Al Mahmood, council members posed various questions relating to the monies in the state pension scheme.

What is the total amount collected, where is it kept, who controls the funds, is it being gainfully invested - and if so, how, were some of the questions they posed.

They suggested the monies be either invested gainfully by a cell charged with doing so, or transferred to the Federal Government.

They, however, noted payment out of the pension scheme to retired officials continues to be delayed.

Sources told Gulf News the issue is currently being studied by a special committee constituted under the chairmanship of Sheikh Tariq bin Faisal Al Qasimi, who heads Sharjah Economic Deve-lopment Department.

Earlier in the session, council members lauded the issues raised and proposals made by His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, who attended the inaugural Consultative Council session after the summer break.

They also received official notification about the proposed Sharjah Public Transport Authority, which will regulate all public transport in the emirate.

The body, instituted recently, will include taxis, vans, buses and all other forms of public transport services available to commuters against a fare under its umbrella.

The authority will also be in charge of providing licences to private operators permitted to offer transport services to commuters. It is unlikely, however, to itself own a vehicular fleet, at least in the initial stages.

Meanwhile, the next Consultative Council session will study the status of infrastructure development in the emirate, which falls under the ambit of the Department of Planning and Public Works.