Pakistan. Pension payments to reachRs46 billion in next fiscal year
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.
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