Daily Times

ISLAMABAD: The ill conceived policies of the Government pushed the Employees Oldage Benefit Institution (EOBI) to the brink of devastation. Well placed sources told Daily Times that PML-N Government announced to enhance pension from Rs 3600 to Rs 5200 for the sake of political point scoring and EOBI was directed that pensioners be paid pension at enhanced rate. EOBI started implementing government orders immediately, Finance Ministry had assured the EOBI that Rs 6 billion against enhanced pension would be released to it but the Ministry has not released these funds so far. EOBI is paying pension out of the amount which is collected from millions of poor employees on account of gratuity and other deductions. Sources said that if the present state of affairs were allowed to prevail then the department will go bankrupt till 2018 and millions of rupees collected from the poor employees would go waste. And thousand of pensioners would also stand deprived of their pension. Sources said that EOBI has now become provincial department following the implementation of 18th constitutional amendment but resolution has been adopted in two provincial assemblies including Punjab and Sindh; “We cannot bear the responsibility of EOBI” Bill has been tabled in parliament on this count seeking amendment in the act which is still awaited.