Times of Islamabad

Federal government announced massive increase in pensions

Federal government announced massive increase in pensions

ISLAMABAD – Special Assistant to Prime Minister (SAPM) on OverseasPakistanis and Human Resource Development Sayed Zulfiqar Abbas Bukhari saysthe government is committed to raising Employees’ Old-Age BenefitsInstitution (EOBI) pension amount up to a minimum Rs 10,000 by year end.

“It is a first government which has increased basic pension of the EOBIpensioners by 23 percent and will be further augmented to Rs 15,000 bycurtailing the losses of this institution,” he said while addressing thesigning ceremony of the Oversees Employment Corporation (OEC) Tower onWednesday.

Bukhari said that the Pensioners’ welfare schemes were in abeyance due thefinancial losses incurred by the EOBI due to past regimes’ corruption andmismanagement.

He added the overseas ministry was leasing out the OEC tower and othersEOBI properties in order to facilitate the pensioners.