Gondal claimed the surplus funds
weren't being relinquished and were being issued for development funds to the treasury.
The surplus funds
in the scheme are excess superannuation contributions by the government as employer.
The firm has entered into a USD110m settlement with policyholders who alleged that it had breached its obligations by improperly withholding surplus funds
rather than distributing them as dividends.
The company would like to note that the allocation ratio was over 8847 per cent and surplus funds
have already been repaid to investors.
Additional Chief Secretary Shamail Ahmad Khawaja said it was a responsibility of the government to ensure best use of investment of surplus funds
of seven billion rupees of the Provincial Benevolent Fund Board and improving facilities for the visitors at the office of the Board located at Alfalah Building here.
LAHORE -- Additional Chief Secretary Punjab Shamail Ahmad Khawaja presided over a meeting here on Tuesday regarding investment of surplus funds
of seven billion rupees of the Provincial Benevolent Fund Board.
British challenger bank Aldermore on Monday reported that 34% of small and medium-sized enterprises (SMEs) don't know what interest rate their business is currently receiving on their surplus funds
The new takaful rules include provisions on the distribution of surplus funds
to policyholders and segregation of assets of participants' and shareholders' accounts.
Based on projected revenue flows, the Comptroller's office estimates that the BPCA will generate some $400 million in surplus funds
over approximately 10 years, with the bulk of the new receipts starting in fiscal year 2016.
Sadrist Trend criticizes governmental decision on food ration BAGHDAD/ Aswat al-Iraq: Sadrist Trend, headed by Muqtada al-Sadr, described governmental action on food ration as "contradictory", at a time refusing to give the oil surplus funds
to the people, but decides to cancel the food ration card.
CBJ excess reserves come from the surplus funds
of banks needed to finance their operations, where the central bank pays 2 percent annual interest limited to commercial banks, while Islamic banks are not included.
Considering the fact that there has been an increase of only RO1,879 in the surplus funds
, in spite of the increase in employee related costs, rent of school and accommodation as per the financial statements for the period ending March 31, 2010, the fee hike should be withdrawn," they demanded.