{"id":17637,"date":"2023-07-03T17:46:26","date_gmt":"2023-07-03T12:46:26","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=17637"},"modified":"2023-07-03T17:46:26","modified_gmt":"2023-07-03T12:46:26","slug":"lda-to-invest-pension-fund-in-bank-of-punjabs-capital-scheme","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/lda-to-invest-pension-fund-in-bank-of-punjabs-capital-scheme\/","title":{"rendered":"LDA to Invest Pension Fund in Bank of Punjab&#8217;s Capital Scheme"},"content":{"rendered":"<p>LAHORE: Due to a deteriorating financial situation, rising expenditures, inflation, and a significant decline in revenue collection, the Lahore Development Authority (LDA) has decided to overcome the financial crisis.<\/p>\n<p>According to sources, the authority has planned to invest a portion of its pension fund under Tier-II capital (Term Finance Certificates) of the Bank of Punjab (BoP) to generate profits and meet expenses.<\/p>\n<p>In a recent meeting held at the office of the Punjab chief secretary on March 28, 2023, the LDA&#8217;s governing body formally approved an initial investment of Rs. 220 million with the Bank of Punjab.<\/p>\n<p>According to the meeting minutes, the government has decided to revamp the structure and nature of existing commodity financing.<\/p>\n<p>The Bank of Punjab proposed the investment of LDA funds in Tier-II capital, which includes profit\/markup payments calculated on a semi-annual basis with a profit rate of six months KIBOR+1.25 percent per annum.<\/p>\n<p>The investment would mature after 10 years, with an option for better quality capital (call option) after five years.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/cda-offers-golden-opportunity-to-expats-for-investment-in-residential-plots-in-c-series-sectors\/\" target=\"_blank\" rel=\"dofollow\" class=\"uc41fbce157e77e3f38f1b88ae3a24ee0\"><style> .uc41fbce157e77e3f38f1b88ae3a24ee0 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .uc41fbce157e77e3f38f1b88ae3a24ee0:active, .uc41fbce157e77e3f38f1b88ae3a24ee0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .uc41fbce157e77e3f38f1b88ae3a24ee0 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .uc41fbce157e77e3f38f1b88ae3a24ee0 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .uc41fbce157e77e3f38f1b88ae3a24ee0 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .uc41fbce157e77e3f38f1b88ae3a24ee0:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">CDA Offers Golden Opportunity to Expats for Investment in Residential Plots in C-Series Sectors<\/span><\/div><\/a><\/div>\n<p>Moreover, the minutes highlighted the challenging economic conditions and the impact on the real estate sector, which has significantly affected the LDA&#8217;s revenue sources.<\/p>\n<p>The income from commercialization fees and land sales is currently 36% and 82% below the targets, respectively.<\/p>\n<p>On the other hand, the development expenditures of the LDA are increasing due to rising material costs, leading to a compromised liquidity position for the LDA&#8217;s Urban Development Wing.<\/p>\n<p>However, the minutes revealed that the LDA&#8217;s pension fund still has some surplus funds, despite continuous depletion caused by an increasing number of pensioners and annual pension increases.<\/p>\n<p>The investment aligns with the LDA Act 1975, which allows the authority to invest surplus funds in government securities, government-sponsored saving schemes, or other prescribed methods.<\/p>\n<p>The delegation of powers of LDA, as stated in clause 19, empowers the authority\/chairman (governing body) to determine the manner of investing surplus funds.<\/p>\n<p>After thorough deliberations, the LDA&#8217;s governing body approved the proposal to invest Rs200 million in the Bank of Punjab&#8217;s scheme.<\/p>\n<p><em>Source: DAWN<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LAHORE: Due to a deteriorating financial situation, rising expenditures, inflation, and a significant decline in revenue collection, the Lahore Development Authority (LDA) has decided to overcome the financial crisis. According to sources, the authority has planned to invest a portion of its pension fund under Tier-II capital (Term Finance Certificates) of the Bank of Punjab (BoP) to generate profits and meet expenses. In a recent meeting held at the office\u2026<\/p>\n","protected":false},"author":3,"featured_media":12949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-17637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/ProProperty-Design-Template-1000x560-26.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/ProProperty-Design-Template-1000x560-26.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/ProProperty-Design-Template-1000x560-26.jpg",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"LDA to Invest Pension Fund in Bank of Punjab\u2019s Capital Scheme","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=17637","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=17637"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/12949"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=17637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=17637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=17637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}