Govt announces 30% increase in EOBI pensioners’ annuity

Special Assistant to Prime Minister on Overseas Pakistanis and HRD (OPHRD), Syed Zulfikar Bukhari announced 30% increase in EOBI pensioners’ annuity which will be effective from 1st January 2020. This was announced at an inauguration ceremony of revival of mega project of EOBI “Commercial & Corporate Complex” at Islamabad on Thursday.

Addressing to the ‘Ciniplex and Commercial Complex’ inaguration ceremony, Zulfi Bukhari said that after increase, EOBI pensioners would receive Rs 8,500 per month from January 1st, 2020. He said the ministry would move the summary regarding the increase at the next meeting of federal cabinet for the final approval.

Bukhari shared his vision to bring the EOBI pensions equivalent to the minimum wage rate of the country. “We are intending to raise this amount up to Rs 15,000 by the end of our tenure (2023),” The SAPM also said that the PTI government, in its efforts to give more relief to the pensioners, had twice increased their annuity in just one and half year’s tenure. The government had already enhanced the minimum pension of the EOBI’s insured person from Rs-5,250 to Rs-6,500 during 2018 and the pension has already been enhanced by 62 percent since Pakistan Tehreek-e-Insaaf Government came into power.

The SAPM said the ministry had managed to invigorate four EOBI mega projects within first year of the PTI government, besides launching the construction work on two of them. “Two projects including Overseas Employment Corporation (OEC) Tower and Ciniplex and Commercial Complex will be leased out by February, 2020 to generate additional revenues for EOBI pensioners,” he added. At present, he said 18 projects worth billions of rupee were in litigation, adding these legal issues would be resolved soon. Bukhari said that the revival of sick projects would enable the government to help raise the pension amount up to Rs 15,000 per month. Around 65.1 million formal and informal laborer is currently working in different sectors including factories, industries, fields, workshop, media and other sectors. “Only 8.1 million formal laborers, out of 15 million, are registered with EOBI,” he said and added the inclusion of informal workforce would be ensured under the leadership of Prime Minister Imran Khan.

Bukhari further said the previous regimes had destroyed the institution by appointing their blue-eyed ones who looted public money.The digitization of EOBI is in process and would be completed within three months that would help bring transparency in its affairs. He said the ministry had introduced multiple reforms in the EOBI to resolve devolution issues, confronting the institution and expedited efforts to save one of the biggest funds of the country from depletion.

Referring to Ciniplex and Commercial Complex project, EOBI Chairman Azhar Hameed said the project was launched several years ago with Rs 3 billion and could not be materialized in stipulated time period due to certain reasons. He vowed to complete the said project within the allocated cost of Rs 3 billion. The chairman said the construction work on two more mega projects would be initiated by February, 2020 and would be leased out in the same year after their completion. He urged the employers, registered with EOBI, to enhance their pension fund so that the relief could be passed on to pensioners and vowed to project EOBI positively by ensuring efficiency and pro-pensioners initiatives in the days ahead.