Pension payments to reachRs46 billion in next fiscal year

KARACHI: Employees Old-Age Benefits Institution would bring pension payments up around 31 percent year-over-year to Rs46 billion in the next fiscal year, its head said.

Chairman EOBI Azhar Hameed said pension payments would reach Rs35 billion by the end of the current fiscal year. “The disbursement will increase to Rs46 billion during the next fiscal year,” he said, addressing members of Korangi Association of Trade and Industry (Kati).

Hameed said the institution is planning to celebrate pension day to spread awareness among the employers and to honour the dedicated contributors.

EOBI chief said audit of companies should be confined to once a year and he would not allow making this exercise a tool of harassment. He asked Kati’s officials to nominate a focal person to work with the institution and resolve urgent matters.

Kati President Danish Khan said there is a lot of confusion regarding the role of EOBI after 18th amendment and ongoing litigations in the courts also cause uncertainty. Employers are ready to provide every possible facility and contribution for the welfare of workers.

The association’s officials said there is need to give awareness to the employers on the role and importance of the institution. They called for an EOBI’s special desk at the industrial association to resolve issues. EOBI’s credibility is at stake due to incompetence of workers social welfare departments, they added.

APP adds: Special Assistant to Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari on Wednesday said pension, social security and welfare packages would be offered to labours for their socioeconomic well being under the Prime Minister Imran Khan’s ‘Ehsas Program’.

In his video message on ‘Labour day’, paying tribute to the labours working inside and outside of the country, Bukhari said his ministry is working out various plans to

ensure provision of all rightful benefits to the marginalised segment of the society as per the pro-labour policy actions of Ehsas program.

“This is the first government which protects workers’ rights and takes labour-centric initiative,” he remarked while expressing his resolve to fight for their fundamental rights at every forum.

The official said the government is focusing to include every working class under the program ranging from skilled, non-skilled, and productive to unproductive workers. “The ministry of Overseas Pakistanis and Human Resource Development is working tirelessly to provide relief to workers.”