NATIONAL FUND FOR MOHENJO DARO

NATIONAL FUND FOR MOHENJO DARO

INTRODUCTION

National Fund for Mohenjo Daro (NFM) is basically a window,

aimed-at extending financial assistance for preservation and

development of the archaeological site, especially for the

protection, conservation, development of landscape, turning

the site into a tourists’ attraction spot and any other

plan/activity, as may be required.

NFM can be accessed through its Executive Board, which

exercises authority of overall control, supervision and

management of the Fund.

In technical matters, the Executive Board of NFM is assisted by

its Technical Consultative Committee.

BRIEF BACK HISTORY

National Fund for Mohenjo Daro and its Board of Governors (BOG)

was created from 6-02-2002 with its Secretariat in the defunct

Ministry of Culture, Sports, Tourism and Youth Affairs, Government of

Pakistan, Islamabad, vide Notification, dated 11-03-2002.

The Fund originally comprised:

the balance amount, as on 1-02-2002, inherited from the defunct Authority

for the Preservation of Mohenjo Daro (APM), abolished on 30-09-1997, as

under

i) US$ 6,62,000/- ii) PKR 6,09,04,943/-

BRIEF BACK HISTORY

The Fund was established for the same purpose as depicted in the

introduction.

The Board of Governors was created under the chairmanship of

Governor Sindh with Federal Minister for Culture, Sports, Tourism and

Youth Affairs as Vice Chairman and fourteen other Members from

Federal and Provincial Governments and private sector, as well.

On 26-06-2004 defunct Ministry of Minorities, Culture, Sports, Tourism

and Youth Affairs, Government of Pakistan replaced sixteen

Member BOG with the following Executive Board:

BRIEF BACK HISTORY i) Secretary, Chairman Ministry of Minorities, Culture, Sports, Tourism and Youth Affairs ii) Secretary Culture, Government of Sindh Member iii) Director/Representative, Member UNESCO Office, Islamabad iv) Representative of Member Cultural Heritage Division, UNESCO Headquarters, Paris v) Director General, Department of Member Archaeology & Museums, Karachi There also existed a Technical Consultative Committee.

DEVOLUTION TO SINDH

In pursuance of Constitution (Eighteenth Amendment) Act, 2010 (Act

No.X of 2010), the National Fund for Mohenjo Daro (NFM) was

devolved to Sindh with effect from 06-04-2011.

The financial structure of the Fund, at the time of devolution, was as

under:

i) PKR 14 million (TDRs) with maturity date as 10-01-2012

ii) PKR 50 million (TDRs) with maturity date as 10-01-2012

iii) PKR 2.1 million (Current Account)

iv) PKR 55,000/-

v) US$ 15305/-

DEVOLUTION TO SINDH

Besides funding, services of 25 low paid contractual employees

were also devolved to Sindh, coupled with a disputed case of

Deputy Director, which is pending adjudication, as yet, in the

Circuit Bench, High Court of Sindh, Larkana.

Of 25 contractual employees, 4 have so far retired and there

remain 21 employees behind.

DEVOLUTION TO SINDH

On the analogy of Federal Government, an Executive Board of

National Fund for Mohenjo Daro, consisting of the following, was

notified on 07-07-2011:-

i) Minister for Culture, Sindh Chairperson

ii) Director/Representative, Member UNESCO Office, Islamabad iii) Secretary, Culture Department, Member/Secretary Government of Sindh iv) Director Archaeology, Sindh, Hyderabad Member v) Mr. Abdul Razzaque Soomro Member An eminent personality from Larkana

DEVOLUTION TO SINDH

Executive Board of NFM held its first meeting on 30-07-2011 at

Larkana and decided to notify Technical Consultative Committee,

the final shape of which is as under:-

i) Dr. Nilofer Shaikh, Chairperson An eminent Archaeologist ii) Director Archaeology, Sindh Convener iii) Prof. Dr. Michael Jansen, Member University of Auchen, Germany iv) Prof. Sohiko Yamada, Member Architect/ Town Planner, Japan v) Dr. Saeed Ahmed Soomro, Member Visiting Professor of Pure and Applied Geology vi) Dr. Kaleemullah Lashari Member vii) Syed Hakim Ali Shah Bukhari Member

DEVOLUTION TO SINDH

Upon maturity, the accounts of NFM were got transferred from

Islamabad in Jan-2012, totaling a sum of Rs. 72.2 million.

As approved by the Executive Board of NFM, an amount of Rs. 70

million was invested in PIBs through Fund Management House,

Finance Department. Similarly, an amount of Rs 100 million

sanctioned by Sindh Government as Endowment Fund was also

invested in the same manner.

DEVOLUTION TO SINDH

The details of both the investments are as under:

As of now, the above investments have yielded a profit of

Rs. 35,774,842.87

The details of total profit to be earned out of the above

investments are as under:

S No. Face Value Price Coupon Rate Tenure Settlement Date

Total

Investment Amount

1. 70 million 96.6284 11.5% 05 years 15-Feb-2012 Rs. 71,620,891

2. 105 million 93.5186 11.75% 10 Years 11-April-2012 Rs. 100,019,120

INVESTMENT OF RS. 70 MILLION

FACE VALUE COUPON DATE COUPON RATE AMOUNT

70,000,000 18-Feb-12 11.5% 4,013,973

70,000,000 18-Aug-12 11.5% 4,036,027

70,000,000 18-Feb-13 11.5% 4,013,973

70,000,000 18-Aug-13 11.5% 4,036,027

70,000,000 18-Feb-14 11.5% 4,013,973

70,000,000 18-Aug-14 11.5% 4,036,027

70,000,000 18-Feb-15 11.5% 4,013,973

70,000,000 18-Aug-15 11.5% 4,036,027

70,000,000 18-Feb-16 11.5% 4,003,005

70,000,000 18-Aug-16 11.5% 74,046,995

INVESTMENT OF RS. 100 MILLION

FACE VALUE COUPON DATE COUPON RATE AMOUNT

105,000,000 18-Aug-12 11.75% 6,185,651

105,000,000 18-Feb-13 11.75% 6,151,849

105,000,000 18-Aug-13 11.75% 6,185,651

105,000,000 18-Feb-14 11.75% 6,151,849

105,000,000 18-Aug-14 11.75% 6,185,651

105,000,000 18-Feb-15 11.75% 6,151,849

105,000,000 18-Aug-15 11.75% 6,185,651

105,000,000 18-Feb-16 11.75% 6,135,041

105,000,000 18-Aug-16 11.75% 6,135,041

105,000,000 18-Feb-17 11.75% 6,135,041

INVESTMENT OF RS. 100 MILLION

FACE VALUE COUPON DATE COUPON RATE AMOUNT

105,000,000 18-Aug-17 11.75% 6,135,041

105,000,000 18-Feb-18 11.75% 6,135,041

105,000,000 18-Aug-18 11.75% 6,135,041

105,000,000 18-Feb-19 11.75% 6,135,041

105,000,000 18-Aug-19 11.75% 6,135,041

105,000,000 18-Feb-20 11.75% 6,135,041

105,000,000 18-Aug-20 11.75% 111,135,041

DEVOLUTION TO SINDH

Executive Board of NFM, prior to the instant meeting, has held

five meetings on 30-07-2011, 14-02-2012, 09-11-2012, 10-01-2013

and 28-02-2013 in which the following important decisions were

taken, most of which have been implemented and some of

which are undergoing the process of implementation:-

i) Monsoon preparedness (since devolution)

ii) Seasonal maintenance (since devolution)

iii) Dry Core Drilling to identify limits and define Buffer Zone.

iv) Topographic/GPS survey.

v) Preparation of Master Plan.

vi) International Seminar on Mohenjo Daro.

DEVOLUTION TO SINDH

vii) National Conference on Mohenjo Daro.

viii) Repairs to the old vehicle of Sir John Marshall.

ix) Re-printing of old/out of print book of Sir John Marshall.

x) Repair, renovation and refurbishing of Rest House.

xi) Re-opining of theft case of seals from archaeological

museum.

xii) Short, mid and long term conservation strategy.

xiii) Tree Plantation at Mohenjo Daro.

xiv) Contractual appointment of Tour Guides, AutoCAD

Architect, Conservation Assistant and Conservation

Forman.

DEVOLUTION TO SINDH

xv) Encouraging students’ visits to the archaeological

remains.

xvi) Uniforms for the NFM staff.

xvii) Regular visits to the site by Members of TCC.

xviii) Security of archaeological museum.

xix) New Arms for security staff of archaeological museum.

xx) Media and public sensitization workshop.

xxi) Provision of 10 KV Generator and Suction Pumps.

xxii) Arrangement for guarding of archaeological remains on

festive days.

DEVOLUTION TO SINDH

xxiii) Enhancement in the monthly salary of the staff by Rs.2,000

per month.

xxiv) One time grant of Rs.2,00,000/- to retired employees.

xxv) Regularization of the services of NFM employees

transferred from Federal Government.

xxvi) Erection of protection wall to the land near Dadu Canal.

xxvii) Provision of Indication Boards.

xxviii) Organizing mobile exhibition.

THANK YOU