Cabinet approves 20pc increase in EOBI pensions

ISLAMABAD: The Federal Cabinet on Thursday approved a 20% increase in Employees Old Age Benefits Institution (EOBI) pensions.

The increase in pensions was suggested in November last year and the Ministry of Overseas Pakistanis & Human Resource Development submitted the summary in December. Special Assistant to Prime Minister on Overseas Pakistanis & HRD, Zulfikar Bukhari’s role in this regard was crucial, Press Information Department PID reported.

Earlier, minimum pension for EOBI pensioners was Rs. 5,250 which will now be Rs. 6,500 after the approval of a 20% increase by the Federal Cabinet.

This is an unprecedented increase for over 450,000 pensioners of EOBI. The increase in pensions is the first good news of this year for pensioners by the subsidary of Ministry of Overseas Pakistanis & HRD.

Zulfikar Bukhari has said that we are working on reforms in EOBI. The improvements in Pakistan’s one of the biggest institutions will be evident in a few months, he said. He said that the pensions will be increased further in coming months.

The welfare of the old-aged is close to my heart which is why pension-increase was my first priority, he added. Bukhari said that the increase in pensions is a huge success of the current government and such steps will be taken frequently to facilitate the common man.

Citing the structural reformation of the institution, Bukhari said that people will soon feel a positive change in EOBI.

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