Minister HRD visited EOBI HO to review the Performance of the Institution

384 / EOBI

Karachi (PR): Federal Minister for Overseas Pakistanis & Human Resource Development Pir Sadruddin Shah Rashidi visited the Employees’ Old Age Benefits Institution (EOBI) and presided over a high level meeting. The Chairman EOBI Mr. Khaqan Murtaza welcomed the Minister and presented a detail briefing on EOBI activities, performance and future Projects for the well being of the EOBI Pensioners. The Chairman stated that the EOBI has successfully migrated their 0.4 million Pensioners from manual system to Digital system through Bank Alfalah ATM Card, now every  Ageed, Invalid and widow Pensioner can get his/her Pension anywhere and anytime by using ATM Card. The Minister directed to Chairman EOBI to approach the Governor State Bank of Pakistan to connect Bank Alfalah ATM Card with One Link like BISP so that the EOBI Pensioners may get their Pension without present deduction of Rs.17/- for one transaction other than Bank Alfalah.  The Chairman EOBI also briefed the Federal Minister that the Institution has established CNIC based data for Insure Persons throughout Pakistan, in case of changing their employment, his/ her Contribution may be deposited in his CNIC based account accordingly.

Federal Minister, Pir Sadruddin Shah Rashidi also directed  EOBI that a countrywide National Awareness Campaign may be launched for the employees and workers belongs to private sector, so that the every deserving employee/worker may not deprive from his/ her fundamental right of Pension. The Chairman EOBI stated that the Institution is facing problems of less Contribution amount and excess in Pension payments. Approximately 40 thousand Pensioners are increasing every year,  by which the EOB Fund facing deficit. Mr. Khaqan Murtaza has stated that during the F.Y 2014-15 the Institution has collected Rs.13.6 billion as EOB Contribution and disbursed Rs.16.3 billion amongst EOBI Pensioners, during F.Y 2015-16 collected Rs.15.3 billion as EOB Contribution and disbursed Rs.22.8 billion and during F.Y 2016-17 the Institution collected Rs.18.3 billion as EOB Contribution and disbursed Rs.24.2 billion amongst the total No. of Pensioners.

The Institution has fixed Contribution target of Rs.22.6 billion for the current F.Y 2017-18. The Federal Minister has also advised the   EOBI to improve its Investment activities in profitable and secured investment schemes. He also directed to conduct meetings to review the performance of the Institution on fortnightly basis.