MUSCAT: The Board of Directors of the Ministry of Defence Pension Fund reviewed in its annual meeting chaired by Sayyid Badr bin Saud al Busaidy, Minister Responsible for Defence Affairs, the investment performance of the Fund during the previous period. The Board adopted the audit report for the accounts of the Fund and the Financial Statements and reviewed the rest of the agenda items and appropriate decisions were taken. The Board reviewed the real estate investment portfolio in the pension fund and the work progress in the existing real estate projects and future projects and discussed the investment performance of the Fund during the first ten months of 2017 and commended the efforts exerted to achieve these good results.
The Board emphasised the public investment policy that seeks to achieve the best returns taking into account the changes and challenges facing the global, regional and local economy and the need to ensure continuous cash flows to cover the financial, investment and pension commitments of the Fund while continuing to support local projects within the Sultanate that serve the national economy and provides employment opportunities for Omani youth. The Board urged the importance of doubling efforts and increasing productivity and providing the best pension services on a high basis of efficiency and effectiveness, constantly seeking to strengthen channels of communication between the Pension Fund and retirees and employees of the Ministry of Defence and the Sultan’s Armed Forces and the continuous work on developing mechanisms and work to achieve the desired goals. — ONA
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