LAHORE - Provincial Minister of Finance Tanvir Ashraf Kaira has said that the volume of Punjab Pension Fund has been reached Rs12.5 billion and the fund has also paid a profit of Rs1 billion to government of the Punjab. He expressed these views while presiding over 10th meeting of the management committee of the Punjab Pension Fund. Chairman Planning and Development Board, Secretary Finance, Secretary Services, General Manager, Punjab Pension Fund and other private members attended the meeting. During the meeting, the committee reviewed financial statements of the Punjab Pension Fund for the period ended on March 31, 2010 and appreciated the overall performance of the fund. The meeting was informed that the fund is pursuing its strategy of building long-term assets, as currently return on such assets is relatively high. Hence on March 31, 2010, 39 per cent of total funds were invested in Pakistan Investment Bonds. Remaining funds were invested in short-term instruments comprising of Treasury Bills and Bank Deposits. The Committee was further apprised that during nine months, the fund had earned a gross annualised return of 13.88 per cent and after management expenses, it had earned net annualised return of 13.71 per cent.The committee approved financial statements of Punjab Pension Fund for the period ended March 31, 2010. The Committee also approved a budget of Rs37 million for Punjab Pension Fund for the financial year 2010-11. General Manager told the meeting that the fund will continue to build its portfolio of Pakistan Investment Bonds through auction and secondary market purchase. He also informed that the fund has also started building portfolio of good quality Corporate Bonds. JI for transparency in aid distribution Ameer JI Punjab Dr Was-eem Akhtar has demanded that process of distribution of international and domestic aid for the flood affectees should be made transparent. He was talking to members of Al-Khidmat Foundation during a ceremony of handing over ambulances to the Foundation to provide medical assistance to flood affectees on Monday. Waseem demanded for a thorough investigation into breaching of the embankments in Punjab on the alleged behest of influential landlords, which drowned a large number of villages and inhabitants as well. He said that there was a dire need of short and long-term planning to rehabilitate the flood affectees. He proposed that a coordination committee comprising of welfare organisations taking part in rescue and relief operations in the flood-hit areas should be constituted for carrying out better and coordinated relief activities.