In a significant move, the federal cabinet has approved a landmark 20% increase in pensions for over 450,000 pensioners of the Employees Old-Age Benefits Institution (EOBI).
The decision was initiated in November of last year, with the Ministry of Overseas Pakistanis & Human Resource Development submitting the summary in December. The approval, granted recently, reflects the government’s commitment to enhancing the welfare of retirees.
The proposal for the pension increase was actively championed by Special Assistant to the Prime Minister on Overseas Pakistanis & Human Resource Development, Zulfikar Bukhari. His role was instrumental in driving the positive outcome, which comes as the first good news for EOBI pensioners in the new year.
Previously, the minimum pension for EOBI pensioners stood at Rs5,250, and with the approved 20% increase, it will now be raised to Rs6,500. This substantial increase is expected to provide much-needed financial relief to retirees who depend on these pensions for their livelihood.
Zulfikar Bukhari expressed satisfaction with the decision, highlighting that the welfare of the elderly holds great importance. He emphasized that pension increases were a top priority and a key focus of the Ministry of Overseas Pakistanis & Human Resource Development. The move is considered a significant success for the current government and is seen as a step towards fulfilling its commitment to improving the lives of citizens.
Bukhari stated that ongoing efforts are being made to introduce reforms in EOBI, one of the country’s largest institutions. He assured that the positive changes resulting from these reforms would be evident in the coming months. Additionally, he pledged to further increase pensions in the future, underscoring the government’s commitment to supporting the elderly population.
The EOBI pension increase is part of a broader strategy to address the needs of pensioners and enhance the social safety net. By providing financial relief to retired individuals, the government aims to improve their quality of life and ensure that they can meet their basic needs.
Zulfikar Bukhari expressed optimism about the future, stating that structural reforms in EOBI would soon translate into a positive transformation that would benefit pensioners. He stressed that such steps would be taken regularly to facilitate the common man and reiterated the government’s commitment to the well-being of its citizens.
As the government takes proactive measures to enhance social welfare programs, the approval of a 20% increase in EOBI pensions stands as a testament to its dedication to improving the lives of retired individuals and building a more inclusive and supportive society.
