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  • Pension account to become inoperative on verification failure: Finance Division

    Pension account to become inoperative on verification failure: Finance Division

    ISLAMABAD: Bank account of a pensioner shall become inoperative if the person drawing pension fails to undergo biometric verification or is not drawing pension for consecutive six months.

    The Finance Division in a letter to the governor of State Bank of Pakistan (SBP) on Thursday informed that that if a person drawing pension fails to submit a life certificate or fails to undergo biometric verification during the months of March and October or a pensioner does not draw pension for consecutive six months, the account shall become dormant.

    The finance division said that following clarification for payment of pension through Direct Credit System (DCS):

    (i) The pension shall be paid to a pensioner through a bank account either current or PLS maintained in his own name.

    (ii) For payment of pension through bank account as mentioned at (i) above, a joint account shall not be valid.

    (iii) Dedicated pension bank account shall not be mandatory for drawl of pension.

    (iv) The requirement of indemnity bond from a pensioner, as laid down in para 3(f) and 9(xii) of the Revised SOP 2014 issued on July 14, 2014 is discontinued.

    It said that the through a letter September 08, 2020 the finance division had already decided that no separate bank account is required for draw/disbursement of pension for all new retirees and that it may be ensured that the pensioner starts receiving pension payment on the date it falls due, in the same bank account, he or she was receiving the salary before retirement, if he or she desires so.

    The finance division said that after necessary amendments in the relevant rules, the federal government is going to launch a system which would cater for all the requirements/documentations digitally to further facilitate the pensioners.

    Salient features of the system are as under:

    (a) A pensioner drawing pension under clause iii of sub rule (6) of Federal Treasury Rules shall be facilitated to undergo biometric verification from any branch of a bank maintaining his pension account, every year in the months of March and October. If the pensioner is unable to under biometric verification due to incapacitation by bodily illness, infirmity or if his fingerprints do not exist due to old or a genetic condition, he will provide a life certificate signed by a person authorized under rule 343 every six months.

    (b) The declaration shall be obtained yearly from pensioner who pension is terminable by their marriage or remarriage and shall be attached to the pension bill paid in September instead of December and June.

    (c) Further, submission of declaration regarding marriage or remarriage will be dispensed with after the widow or daughter of the pensioner attains the age of sixty year.

    (d) If a person drawing pension fails to submit a life certificate or fails to undergo biometric verification during the months of March and October or a pension does not draw pension for consecutive six months, the account shall become dormant.

  • SBP recommends increasing retirement age to reduce fiscal burden

    SBP recommends increasing retirement age to reduce fiscal burden

    KARACHI: State Bank of Pakistan (SBP) has recommended increase in retirement age in order to reduce average coverage period of retirement benefits.

    “The increase in level of standard pension age may reduce the average coverage period of retirement benefits,” the SBP said in a report issued on Tuesday.

    The pension system follows two eligibility criteria for retirement: the qualifying service of 25 years and the threshold of 60 years of age.

    Interestingly, most of the employees in federal, provincial and defense service join their departments in early- to mid-twenties, and complete 25 years of services during their early- to mid-50s and therefore become eligible for early retirement.

    It is pertinent to mention here that the retirement age of 60 years is already markedly lower than many other countries, and so the early withdrawal after completion of qualifying service puts further strain on fiscal sustainability of pension expenses.

    In this regard, the increase in level of standard pension age may reduce the average coverage period of retirement benefits.

    In addition, the delayed retirement age will support in increasing the contribution period once the government opts for a funded system in the subsequent round of reforms.

    The government can use one or multiple approaches to reduce the early retirement incentives.

    For instance, measures such as restricting early retirement eligibility, reducing the marginal benefits below a threshold retirement age, and marginalizing the disincentive to work can all help achieve this objective.

    The SBP also suggested rationalizing the survivorship benefits.

    In contrast, rise in family pension due to increased applicable benefits and inclusion of large set of family members has become a major cause of concern in Pakistan.

    To address this, the first and foremost reform should be to exclude all family members other than minor children and widows from the list of eligible survivorship beneficiaries.

    Any delay in such reform will cause family pension to grow manifold in the coming years due to the probable increase in time span of pension benefits in each individual case.

    In the case of widows, the survivorship benefits can be rationalized in accordance with the increasing labor force participation rates of women.

    In the last few years, many countries have downsized the survivorship benefits by limiting the adjustment period or by eliminating the mandatory benefits for survivors.

    For instance, in Japan, widows (with no children) under the age of 30 were entitled to receive permanent earnings related survivor pension, which were reduced to five years after comprehensive pension reforms in 2007.

    Similarly, in Sweden, widows were entitled to receive the flat survivorship benefit, which after reforms was switched by the minimum income guarantee, eligible for a shorter period than the earlier facility.

    The SBP said that the computation of commuted benefits involves a particular factor assigned to each year after retirement which determines the advance payment amount for each retiree.

    The commutation table laid out by the Ministry of Finance incentivizes early retirement with excessively high commutation factor applied to the younger cohort.

    This is in stark contrast to the traditional pattern followed in most other countries.

    For example, in the UK, the commutation facility is only offered to retirees after attaining a certain age for different employee groups (48 years in the police department, for example).

    Whereas, the Indian pension structure offers minimal variance in commutation factor to different age groups. The growing fiscal burden due to high commutation expenses calls for a restructuring of the commutation mechanism, with rationally designed factors and revision in eligible age profile to make the overall pension structure actuarially fair: the lifetime benefits enjoyed by those who retire early or choose to avail commutation and those who opt out of such facilities.

  • Pension expenditure becoming unsustainable: SBP report

    Pension expenditure becoming unsustainable: SBP report

    KARACHI: State Bank of Pakistan (SBP) on Tuesday said that public pension expenditure in Pakistan is on the path to becoming unsustainable.

    The central bank prepared a study report on rising expenditures of pension which is worrisome.

    “ … limited fiscal space is a major reason why increasing pension spending is worrisome, improvements in the pension framework can substantially help make future payments manageable,” the SBP said.

    Eliminating the generous retrospective increments and reducing the list of dependents eligible for pension payments appear as quick and easy-to implement measures.

    However, the policy recommendations mentioned in the special section are intended to suggest a general direction.

    The concerned authorities must carry out specialized evaluation exercises at their own end and implement the required legislative reforms accordingly.

    Finally, it is important to undertake periodic review of implemented reforms in order to ensure long-term sustainability of the pension structure.

    The SBP said that in Pakistan the absolute level of old-age income support coverage is on the lower side.

    “For instance, the pensions to GDP ratio stands at just 2.2 percent, while the proportion of the population participating in programs that provide old-age contributory pensions, health and/or social security insurance is only 5.9 percent – much lower than the developing economies average of 20.3 percent.”

    The old age dependency ratio – the number of people aged 65 and above compared to the number of working age people – is 8.5 percent, and is expected to rise only marginally to 11.2 percent by 2040.

    But even with such a low pension coverage in the country, reforms to public pensions have become unavoidable in Pakistan in the face of the worrying acceleration in the associated public sector spending witnessed over the last decade.

    “This is principally because public pensions are of an unfunded nature and thus are burdening the already tight fiscal revenue situation.”

    Specifically, the pension expenditure at the federal level has risen by a CAGR of 18 percent in Pakistan during FY11-21.

    Provincial pension expenditure has also witnessed a similar surge.

    Within consolidated pension expenditures, civil pensions (including federal and provincial) constituted 63.2 percent, whereas military pensions made up around 36.8 percent on average during the last 5 years.

    The overall pension spending as a share of tax revenue has reached 18.7 percent as of FY20, almost double the level a decade earlier.

    “If this proportion continues to grow, it could result in the crowding out of other valuable spending avenues: pension spending as percent of total budgeted expenditures for FY20 exceeded health and education spending on both federal and provincial fronts and is almost half the level of consolidated development expenditures.”

    In this regard, International Financial Institutions (IFIs), such as the World Bank and the International Monetary Fund (IMF) have also started flagging the rising pension expenditure as a pressing concern for Pakistan’s debt sustainability.

    What is even more concerning is the fact that pension expenditure is expected to rise further going forward, given the increase in both retiree headcount and the lifespan of future retirees. If fiscal revenues continue on their existing trajectory, the rising pace of pension-related spending would become worrying from the sustainability point of view.

    According to the World Bank’s projections, civil service pension payments would overtake wage expenditures by 2023 and 2028 in Punjab and Sindh, respectively, and come near to their level in the federal government by around 2050.

    Within this context, this special section intends to: (i) describe the existing public sector pensions and benefits system in Pakistan; (ii) highlight major factors that are making pension expenditures unsustainable; and (iii) provide a set of policy recommendations to make the growing postretirement expenditures sustainable going forward.

    Here, it is important to mention that structural factors, such as the size of the civil government and the military, the unfunded nature of pensions, and disproportionally high share of non-gazetted employees (95.3 percent of total federal government employees), are all important factors governing the overall level of pension expenditures in the country.

    However, these factors are beyond the scope of this section; here, we intend to highlight system-bound aspects that explain the steady rise in these expenditures over the last decade.

  • Ms. Sethi appointed as chief pay, pension commission

    Ms. Sethi appointed as chief pay, pension commission

    ISLAMABAD: The government has appointed M.s Nargis Sethi as chairperson of the pay and pension commission with immediate effect.

    A notification issued dated October 15, 2020 by the Finance Division stated that the Prime Minister had appointed Ms. Nargis Sethi, former federal secretary, as chairperson of the pay and pension commission with immediate effect.

    Abdul Wajid Rana has regretted to continue as the chairman of the pay and pension commission, it added.

  • EOBI pension increases to Rs8,500; pensioners to get arrears

    EOBI pension increases to Rs8,500; pensioners to get arrears

    ISLAMABAD: The federal cabinet has approved increase in pension of Employees Old-Age Benefits Institution (EOBI) to Rs8,500 from Rs6,500.

    According to a tweet by EOBI on Wednesday, the federal cabinet approved an increase in EOBI pensions from Rs 6500 to Rs8500 effective from January 01, 2020.

    EOBI will restore the increase in pension + arrears for the month of April, June and July 2020. Pensioners can draw this increase along with the arrears from 1st August 2020, it added.

    The increase in pension was announced in December 2019 by Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari.

    He said that after increase in the EOBI pensioners would receive Rs 8,500 per month from January 01, 2020.

    He said the ministry would move the summary regarding the increase at the next meeting of federal cabinet for a final approval.

    The SAPM said 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.

    He said the government had already enhanced the minimum pension of the EOBI’s insured person from Rs 5,250 to Rs 6,500 during 2018.

    The EOBI pension has been enhanced by 62 per cent since the Pakistan Tehreek-e-Insaf government came into power.

    “We are intending to raise this amount up to Rs 15,000 by the end of our tenure (2023),” Zulfikar Bukhari said.

  • Commission constituted to review salary, perks of government employees

    Commission constituted to review salary, perks of government employees

    ISLAMABAD: The federal government has constituted a pay and pension commission to review existing salary and perks.

    According to the finance ministry, the government of Pakistan had constituted a Pay and Pension Commission, with effect from 14-04-2020.

    The Composition of the Commission shall be as follows:

    Mr. Wajid Rana, Former Federal Secretary, Chairman.

    Mr. Nazar Hussain Mahar, Retired Civil Servant, Member.

    Dr. Noor Alam, Retired Civil Servant, Member.

    Ms. Seema Kamil, President, United Bank Limited, Karachi, Member.

    Mr. Zubyr Soomro, Chairman, Board of Directors, National Bank of Pakistan, Member.

    Ms. Nausheen Ahmed, Company Secretary, ICI (Pakistan) Limited, Member.

    MEMBERS EX-OFFICIO

    Secretary, Finance Division, Government of Pakistan, Member.

    Secretary, Establishment Division, Government of Pakistan, Member.

    Secretary, Defence Division, Government of Pakistan, Member.

    Secretary, Finance Department, Government of Punjab, Member.

    Secretary, Finance Department, Government of Khyber Pakhtunkhwa, Member.

    Secretary, Finance Department, Government of Sindh, Member.

    Secretary, Finance Department, Government of Balochistan, Member.

    Secretary, Finance Department, Government of AJ&K, Member.

    Secretary, Finance Department, Government of Gilgit Baltistan, Member.

    An Officer of BS-21 of the Auditor, General of Pakistan, Government of Pakistan, Member.

    An Officer of BS-21, Controller General of Accounts, Government of Pakistan, Member.

    Joint Secretary (Regulations), Finance Division, Government of Pakistan, Member/Secretary.

    The terms of Reference of the commission are as following.

    i) PAY & ALLOWANCES

    a) Study the adequacy of existing Basic Pay Scale System and to evaluate the current salaries of Government employees throughout the federation including the provincial government and recommend measures for its improvement and uniformity. Also make recommendations for the streamlining of existing classification from BPS 1-22.

    b) Study the separations of existing Basic Pay Scales for specialized departments/occupations/cadres.

    c) Review of Special Scales such as Management Grades, Management Position Scales (MP Scales), Special Professional Pay Scales (SPPS), Project Pay Scales etc. and propose measures for uniformity and improvement.

    d) Review of admissible Regular allowance, Special incentives and all other allowances with a view to highlight prevalent distortions and recommend corrective measures.

    e) Review of existing perks and facilities and make recommendations, including possibility of their monetization.

    1)  PENSION

    To Review the Pension system of the Government of Pakistan:

    A) Highlight existing distortions and anomalies in the Pension Scheme and recommend remedial measures. Verify the sustainability of the current model after critically evaluating future liabilities through an actuarial study.

    B) Evaluate alternate system of Pension like defined contribution and setting up of pension funds in light of international best practices and recommend a system with clear timelines that is more efficient and sustainable, considering the available recourses.

    iii) To Review the existing incentive regime (honorarium and special rewards) and recommend improvement in it.

    iv) To evaluate and recommend legislative measures to protect and streamline Pay, Pension and Allowances regime for government employees.

    v) The Commission may, if so desired by the Government, make interim recommendation to provide interim relief, pending the submission of its final report.

    vi) The Commission shall have power to co-opt any person or agency to assist it in its deliberations>

    vii) The Finance Division shall provide Secretariat support to the Commission and the Commission shall make its recommendations within 6 Months of its constitution. While formulating its proposal/recommendations on the above terms of reference, the pay and pension commission would take into consideration the financial recourses of the Government.

    The scope of work of the Commission will include Federal and Provincial civil servants, other government servants, civilians paid from defence estimates, all Armed Forces/Civil Armed Forces personnel and holders of the posts in Management Scales and employees of such Public sector corporations/autonomous/semi-autonomous bodies, other than Banks and DFIs, which have adopted the scheme of Basic Pay Scales in toto.

    Employees of Public Sector Corporations/Autonomous/Semi-Autonomous bodies who are regulated under the Pay Scales prescribed by these organizations and the employees governed under the Industrial Relations Ordinance, 1969 and/or whose financial terms of service are settled through Collective Bargaining Agents, are executed from the scope of work of the Pay & Pension Commission.

  • Pension granted total income tax exemption

    Pension granted total income tax exemption

    ISLAMABAD: Pensioners are allowed total exemption from tax on income received as pension.

    Officials in Federal Board of Revenue (FBR) on Monday said that pensioners are allowed complete exemption from income tax under Income Tax Ordinance, 2001.

    They said that any pension received by a citizen of Pakistan from a former employer will be exempted from income tax, other than where the person continues to work for the employer (or an associate of the employer).

    Provided that where the person receives more than one such pension, the exemption applies only to the higher of the pensions received.

    The exemption from income tax also available on any pension –

    (i) received in respect of services rendered by a member of the Armed Forces of Pakistan or Federal Government or a Provincial Government;

    (ii) granted under the relevant rules to the families and dependents of public servants or members of the Armed Forces of Pakistan who die during service.

    Any payment in the nature of commutation of pension received from Government or under any pension scheme approved by the FBR for the purpose of this clause is also exempted.

    Any income representing any payment received by way of gratuity or commutation of pension by an employee on his retirement or, in the event of his death, by his heirs as does not exceed –

    (i) in the case of an employee of the Government, a Local Government, a statutory body or corporation established by any law for the time being in force, the amount receivable in accordance with the rules and conditions of the employee’s services;

    (ii) any amount receivable from any gratuity fund approved by the Commissioner in accordance with the rules in Part III of the Sixth Schedule;

    (iii) in the case of any other employee, the amount not exceeding three hundred thousand rupees receivable under any scheme applicable to all employees of the employer and approved by the Board for the purposes of this sub-clause; and

    (iv) in the case of any employee to whom sub-clause (i), (ii) and (iii) do not apply, fifty per cent of the amount receivable or seventy-five thousand rupees, whichever is the less:

    Provided that nothing in this sub-clause shall apply –

    (a) to any payment which is not received in Pakistan;

    (b) to any payment received from a company by a director of such company who is not a regular employee of such company;

    (c) to any payment received by an employee who is not a resident individual; and to any gratuity received by an employee who has already received any gratuity from the same or any other employer.

  • EOBI pension increased by 30 percent from January 01

    EOBI pension increased by 30 percent from January 01

    ISLAMABAD: The government has decided to increase pension amount by 30 percent from January 01, 2019, special assistant to prime minister said on Thursday.

    “New year is heralding big news for the pensioners of Employees’ Old-Age Benefits Institution (EOBI) as the government has decided to raise their annuity by 30 per cent from January 1,2020,” Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari said while addressing Ciniplex and Commercial Complex’ inaguration ceremony on Thursday.

    He said that after increase in the EOBI pensioners would receive Rs 8,500 per month from January, 1 next year.

    He said the ministry would move the summary regarding the increase at the next meeting of federal cabinet for a final approval.

    The SAPM said 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.

    He said the government had already enhanced the minimum pension of the EOBI’s insured person from Rs 5,250 to Rs 6,500 during 2018.

    The EOBI pension has been enhanced by 62 per cent since the Pakistan Tehreek-e-Insaf government came into power.

    “We are intending to raise this amount up to Rs 15,000 by the end of our tenure (2023),” Zulfikar Bukhari said.

  • SBP enhances limit to $5,000 for pension transactions under home remittance services

    SBP enhances limit to $5,000 for pension transactions under home remittance services

    KARACHI: State Bank of Pakistan (SBP) on Monday enhanced the limit of pension transactions up to $5,000 per month under home remittance services.

    According to a circular issued by the SBP the transactions limits by individuals under various categories had been enhanced to $5,000 per month from $1,500 per month.

    The limits have been enhanced to facilitate overseas Pakistanis.

    The central bank on October 22, 2018 allowed banks and exchange companies to effect Business to Customer (B2C) and Customer to Business (C2B) transactions through foreign correspondent entities under their existing/new home remittance agency arrangements subject to inclusion of respective ceilings along with terms and conditions.

    The limits defined under circular issued on October 11, 2019 were $1,500 for: freelance of computer and information system services; other freelance services; and pension transactions.

    In the latest circular, the SBP said that ll other instructions on the subject shall remain unchanged.

    The SBP said that before finalization, exchange companies are required to forward draft of all addendum/new agency agreements.

    The SBP will provide its input, if any, on the draft addendum/new agreement but the ultimate responsibility to adequately safeguard their interest would remain on the exchange companies.

    Furthermore, the AD’s failure to comply with the above mentioned instructions may attract regulatory penalty under Section 23K of the Foreign Exchange Regulation Act, 1947.

  • EOBI pension to increase Rs15,000 per month

    EOBI pension to increase Rs15,000 per month

    KARACHI: The government is aiming to increase the pension amount to Rs15,000 per month from existing Rs6,500 in order to provide relief to elder pensioners and their survivors, a statement said on Sunday.

    Addressing at the first ever Annual Pension Day organized by Employees Old-Age Benefits Institution (EOBI) has organized, Syed Zulfiqar Abbas Bukhari, Special Assistant to Prime Minister for Ministry of Overseas Pakistanis and Human Resource Development, as the chief guest of the ceremony said that currently, the minimum EOBI Pension is Rs6,500 per month but “I am determined to increase the amount to Rs. 15,000 pm, during the term of our government so that the elder pensioners and their survivors would get a little breather.”

    Bukhari said that in September 2018, he had announced 23 percent increase in Pension due to which the Pension was increased to Rs 6,500.

    “However, still it is a nominal amount and needs to be increased. We will make the EOBI a viable and profitable Institution and protect the rights of pensioners,” he said.

    Bukhari further said that more than Rs20 billion have been collected as EOBI Contribution from registered Employers across the country and disbursed 33 billion among the Pensioners.

    “It is not possible to deny the importance of Social Protection for the elderly, disabled employees and widows of the mother land,” he added.

    Earlier, Secretary OP&HRD Engr. Aamir Hassan has welcomed the Chief Guest and briefed the objective of celebration of 1st Annual Pension Day by EOBI.

    On this occasion, Chairman EOBI, Azhar Hameed also expressed his views and highlighted the EOBI services and performance towards registered Employers, Insured persons and Pensioners.

    He said that we are transforming EOBI into a state-of-the-art Institution. We have already started some important projects to achieve our goals.

    One of them is EOBI Transformation Initiative (ETI). Our vision for the future is on being the “Best Technology Driven Service-Oriented Institution” in the country to enable Pension disbursement on timely, prompt and Service basis with the utmost convenience for the contributors. We have also focused on social media and created our twitter handle @EOBIPakistan.

    EOBI Board of Trustees member from KPK Dr. Muhammad Yousuf Sarwar (Employer’s representative) & Muhammad Iqbal (Employees’ representative) also addressed the ceremony.

    Meanwhile, EOBI has selected 132 top and prominent Employers/Companies throughout Pakistan sector-wise i.e. Textile, Sugar, Cement, Coal Mining, IT, Security Companies, Education, Banking, Micro Finance Banking, Insurance, Pharmaceutical, Hospitals, Automobile, Engineering, Human Resource, Beverages, Hotel Industry, Food, Courier Services, Telecommunication, Tobacco, Construction, Media and Power Sector on the basis of highest paid EOBI Contribution on current rate for their employees.

    The chief guest awarded Gold Medals, shields and Appreciation certificates among the following top and prominent Employers/Companies of the country, which included:

    1. PTCL, Islamabad (Total contribution paid Rs. 1,936,432,580, Total pensioners 1,303 and Total pensioner disbursed Rs. 216,822,225)

    2. K-Electric, Karachi (Total contribution paid Rs. 1,343,087,088, Total pensioners 9,546 and Total pensioner disbursed Rs. 3,057,430,302)

    3. HRSG Outsourcing Pvt. Ltd., Karachi (Total contribution paid Rs. 1,282,679,010, Total pensioners 247 and Total pensioner disbursed Rs. 50,942,812)

    4. Oil & Gas Development Company Ltd., Islamabad (Total contribution paid Rs. 1,020,352,522, Total pensioners 4,147 and Total pensioner disbursed Rs. 1,096,759,647)

    5. Sui Northern Gas Pipeline Ltd., Lahore (Total contribution paid Rs. 874,902,306, Total pensioners 3,698 and Total pensioner disbursed Rs. 1,190,798,741)

    6. The Aga Khan Hospital Medical College Foundation, Karachi (Total contribution paid Rs. 851,357,226, Total pensioners 813 and Total pensioner disbursed Rs. 223,709,796)

    7. Utility Stores Corp Ltd., Islamabad (Total contribution paid Rs. 742,159,088, Total pensioners 1,048 and Total pensioner disbursed Rs. 293,062,537)

    8. The Citizen Foundation, Karachi (Total contribution paid Rs. 726,093,214, Total pensioners 313 and Total pensioner disbursed Rs. 58,324,928)

    9. Interloop Ltd., Faisalabad (Total contribution paid Rs. 698,254,092, Total pensioners 213 and Total pensioner disbursed Rs. 51,143,537)

    10. Educational Services Pvt. Ltd. Lahore¬ (Total contribution paid Rs. 662,192,355, Total pensioners 916 and Total pensioner disbursed Rs. 295,556,050)

    The following prominent Employers/ Companies were also honored with Shields and Appreciation certificates for their valuable EOBI Contribution towards their employee’s welfare.

    • Islamabad Hotel,
    • Abbott Laboratories Pakistan Limited,
    • Adamjee Insurance Company Limited,
    • The Aga Khan Hospital Medical College Foundation,
    • Airport Hotel (The Inn),
    • Al-Abbas Sugar Mills Limited,
    • Al-Karam Textile Mills Pvt. Ltd.,
    • ANC Foods, Ashraf, Sugar Mills,
    • Askari Cement Ltd.,
    • Askari Guards (Pvt.) Ltd.,
    • Attock Refinery Limited,
    • B.L. Harbert International Pvt. Ltd.,
    • Bahria Town Pvt. Ltd.,
    • Bata Pakistan Ltd.,
    • Bosch Pharmaceutical Pvt. Ltd.,
    • Byco Petroleum Pakistan Limited,
    • Chenab Management Liaison,
    • The Citizen Foundation,
    • The City Schools Pvt. Ltd.,
    • Coca Cola Beverages Pakistan Ltd.,
    • Credit Commerce Consultants Pvt. Ltd.,
    • D.G. Khan Cement Co. Ltd.,
    • Daily Business Recorder,
    • Daily Jang Rawalpindi,
    • Design Engg. Services Construction Ltd.,
    • Dr. Ziauddin Hospital.,
    • E F U General Insurance Ltd.,
    • Educational Excellence Ltd.,
    • Educational Services (Pvt.) Ltd.,
    • Educational Services (Pvt.) Ltd. (Regional Office),
    • EFU Life Assurance Ltd.,
    • ENI Pakistan Limited,
    • Express Publications Pvt. Ltd.,
    • Fauji Cement Company Limited,
    • Fauji Security Services,
    • Finca Microfinance Bank Ltd.,
    • Fouji Foundation Hospital,
    • Gul Ahmed Textile Mills Ltd.,
    • Hafiz Tannery, Hamza Sugar Mills Ltd.,
    • Hascol Petrolum Limited,
    • Heavy Mechanical Complex Limited,
    • Hillcrest Solutions Pvt. Ltd.,
    • Hinopak Motors Ltd.,
    • HRSG Outsourcing Private Ltd.,
    • Hub Pak Salt Refinery,
    • i2c Pakistan,
    • Independent Media Corporation (Pvt.) Ltd. (Geo),
    • Information Technology Services, Interloop Limited,
    • Islamabad Marriott Hotel,
    • Izhar Construction Ltd.,
    • Jaag Broadcasting Systems (Pvt.) Ltd.,
    • JDW Sugar Mills Limited,
    • Jubilee Life Insurance Company Limited,
    • K- Electric,
    • Karachi Shipyard & Engineering Works Ltd.,
    • Katha Collieries Pak. Ltd.,
    • Khyber-Pakhtunkhwa Oil & Gas Company,
    • Khyber Tobacco Company Limited,
    • Lahore Grammar School,
    • Leather Field (Pvt.) Limited,
    • Leopard Courier Service,
    • Lucky Cement Limited,
    • M A Food Industries Pvt. Ltd.,
    • M Fazal Haq & Co. Ltd.,
    • H. Sadar Ali Akhtar Ali Pvt., Ltd.,
    • Super Coal Mines,
    • Maple Leaf Cement Factory Ltd.,
    • Masood Textile Mills Ltd.,
    • MCC Resources Development Co (Pvt.) Ltd.,
    • Meezan Bank Limited,
    • Memon Motor Private Limited,
    • Mezan Beverages Pvt.,
    • Limited, Muller &Phipps Pakistan Ltd.,
    • Mushtaq Ali Khan Contractor,
    • Muslim Contractor Company (Pvt.) Ltd.,
    • National Communication Services,
    • National Engineering Services Pvt. Ltd.,
    • National Insurance Corporation Ltd.,
    • National Radio Telecommunication Corp.,
    • National Refinery Ltd.,
    • Nextbridge Private Ltd.,
    • Nishat Mills Ltd.,
    • NRSP Microfinance Bank Limited,
    • Oil & Gas Development Company Ltd.,
    • Orient Petroleum Pty Limited,
    • Pak Arab Refinery Ltd.,
    • Pak Elektron Ltd.,
    • Pak Suzuki Motor Company Limited,
    • Pakistan Herald Publications Ltd.,
    • Pakistan Mineral Development Corp,
    • Pakistan Petroleum Limited,
    • Pakistan Refinery Ltd.,
    • Pakistan State Oil Company Limited,
    • Pakistan Telecommunication Co Ltd.,
    • Pakistan Television Corporation Limited,
    • Pakistan Tobacco Company Limited Karachi,
    • Pearl Continental Hotel,
    • Philip Morris (Pakistan) Ltd.,
    • Phoenix Armour Pvt.,
    • Limited, Phoenix Security Service Pvt. Ltd.,
    • People’s Primary Healthcare Initiative (PPHI Sindh),
    • Professional Employers Private Limited,
    • Punjab Beverages Co. (Pvt.,) Ltd.,
    • Quality Contracto,
    • Ravi Auto Sundar Pvt. Ltd.,
    • S S Foot Marks Pvt.,
    • Limited, Sami Pharmaceuticals Ltd.,
    • Searle (Pakistan) Limited,
    • Serena Hotel,
    • Shaukat Khanum Memorial Cancer Hospital,
    • Shell Pakistan Ltd.,
    • Skills Hub Private Limited,
    • Souvenir Tobacco Company Limited,
    • Style Textile (Pvt.) Ltd.,
    • Sui Northern Gas Pipelines Ltd.,
    • Systems Limited,
    • TCS Courier Co.,
    • Tameer Micro Finance Bank Limited,
    • Tandlianwala Sugar Mills Ltd.,
    • Tech Access Pakistan Pvt. Ltd.,
    • The Aga Khan Shia Ismailia Education Society,
    • The Indus Hospital,
    • The News International Lahore,
    • Total Parco Marketing Limited,
    • Microfinance Bank Limited,
    • United Energy Pakistan Limited,
    • United Refrigeration Industries Ltd.,
    • Utility Stores Corp Ltd.,
    • ZIMS Security Pvt. Ltd.

    The Chief Guest Zulfiqar Abbas Bukhari also awarded EOBI Pension Books & souvenirs to the following EOBI Pensioners.

    • Ch. Ameer Khan (PTCL),
    • Tanveer Kaukab (Islamabad Serena Hotel),
    • Saleem Raza Shah (Hotel Holiday Inn),
    • Mst. Nomita Ali Tarar (Pensioner’s widow),
    • Khursheed Begum Arain (Pensioner’s widow),
    • Shahid Hameed (PTC),
    • Maqbool-ur-Rehman Khan (SNGPL),
    • Abdul Rasheed (OPF Girls College),
    • Mst. Ghulam Kubra (OGDCL),
    • Javed Masih (Total Service Centre).

    Th 1st Annual Pension Day program was organized by Aqeel Ahmad Siddiqui, Director General (Operations) EOBI and his team comprising Sr. officials of Sindh & Baluchistan, Punjab & Islamabad, KPK & Gilgit Baltistan’s Benefits & Contribution Departments and 39 Regional Offices throughout Pakistan.