Pakistan News

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  • EOBI pension

    THIS refers to Ishaq Dar’s announcement about the increase in Employees’ Old-Age Benefits Institution (EOBI) pension from Rs3,600 to Rs5,250 effective April last...

    I am thankful, but this promise of raising the EOBI pension to Rs6,000 was already promised by the government in 2013 when it came to power and we, the retired employees of private institutions, have been waiting patiently for this announcement...

  • EOBI directed to recover assets

    KARACHI: Federal Minister for Overseas Pakistanis and Human Re­­source Development Pir Sad­aruddin Rashidi has directed Em­­ployees’ Old-Age Benefits Institution (EOBI) to fully recover its assets...

    Presiding over a meeting at EOBI head office on Wednesday, the minister said the government was aware of the difficulties being faced by employers and pensioners...

  • Govt challenges bail to former EOBI chief

    ISLAMABAD: The government has moved the Islamabad High Court (IHC), seeking cancellation of bail to Zafar Iqbal Gondal, the main accused in multibillion Employees Old-Age Benefits Institution (EOBI) land purchase scam...

    The IHC Chief Justice Mohammad Anwar Khan Kasi on Monday directed the former EOBI chief Mr Gondal to submit reply to the petition and adjourned the case till a date to be fixed by the registrar office...

  • EOBI’s ex-chief gets bail

    LAHORE: The Lahore High Court on Monday granted bail to Zafar Iqbal Gondal, former chairman of the Employees Old-Age Benefits Institution (EOBI), in six cases of fraud and misuse of powers...

    The Federal Investigation Agency (FIA) had lodged cases against Gondal accusing him of violating EOBI’s investment rules in purchase of land in Lahore, Islamabad and Karachi at inflated prices, during the previous rule of the PPP...

  • EOBI raises minimum pension to Rs5,250

    ISLAMABAD: The government has increased the minimum pension paid by the Employees Old-Age Benefit Institution (EOBI) by 46 per cent from Rs3,600 to Rs5,250 per month...

    “EOBI pensioners will get the enhanced pension on May 1,” Finance Minister Ishaq Dar announced on Saturday...

  • EOBI collecting less, paying more to pensioners

    KARACHI: The contributions being received by the Employees’ Old-Age Benefits Institution (EOBI) are far less than the amount being handed out in pension payments annually, said EOBI Chairman Khaqan Murtaza on Tuesday...

    Sharing details of the financial deficit faced by EOBI year after year, he said that in 2014-15, EOBI collected Rs13...

  • Supreme Court holds govt partially accountable in EOBI's multi-billion rupee scam

    The Supreme Court on Tuesday, while hearing a case involving corruption worth billions of rupees in the Employees Old-Age Benefits Institution (EOBI), held the government partially responsible for the alleged corrupt practices being carried out in the institution...

    "Hearing a petition filed by 70 disgruntled pensioners, Justice Azmat Saeed Shaikh summoned the advocate generals of all the four provinces along with the vice-prosecutor...

  • EOBI to disburse pension through National Bank

    KARACHI: The Emp­loyees Old-Age Benefit Insti­tution (EOBI) has decided to transfer the private sector employees’ pension from Easypaisa to National Bank of Pakistan (NBP)...

    EOBI has advised all the pensioners to approach the nearest branch of NBP along with their pension book and National Identity Card...

  • Court rejects bail plea of firm’s three directors in EOBI scam

    A case against former chairman and officials of the EOBI, the AKD Securities and a private textile company’s directors was registered by the Federal Investigation Agency for causing Rs290 million loss to the national exchequer and the state-run pension fund through shares manipulation...

    The EOBI counsel also opposed the bail application and stated that thousands of EOBI employees had suffered because of the scam, and action was being...

  • SC summons Khurshid in EOBI case

    ISLAMABAD: The Supreme Court directed Leader of the Opposition in the National Assembly Khurshid Ahmed Shah on Thursday to appear before it and explain why 238 employees had been appointed in the Employees’ Old-age Benefits Institution (EOBI) during the period between September 2011 and May 2012 despite a court ban on employment...

    The bench had taken up a contempt of court case for violating its Jan 21, 2011, order asking then EOBI...

  • EOBI pays over Rs1.88bn to pensioners

    KARACHI: The Employees Old-Age Benefits Institution (EOBI) paid over Rs1...

    The EOBI registered 129 new employers and companies which resulted in listing and registration of 25,277 more workers for insurance and pension during the period...

  • PIA’s engineers, kitchen staff entitled to EOBI cover

    ISLAMABAD: Employees of the engineering and kitchen departments of Pakistan International Airlines fall under the purview of the Employees Old Age Benefits Institution (EOBI) and are therefore subject to the benefits offered by the organisation, the Supreme Court concluded on Saturday...

    The conclusion came in a judgment authored by Justice Mian Saqib Nisar, dismissing an appeal instituted by the Pakistan International Airlines...

  • EOBI pensioners to get ATM cards

    KARACHI: The Employees Old-Age Benefit Institution (EOBI) is going to issue ATM cards and will also start verification of pensioners through biometric system...

    The EOBI has entered into an arrangement with Bank Alfalah for collection of contribution and distribution of pension...

  • NAB accused of misleading SC in EOBI case

    ISLAMABAD: The Pakistan Peoples Party on Thursday accused the National Accountability Bureau of misleading the Supreme Court by claiming that Leader of the Opposition in the National Assembly Syed Khurshid Shah officiated as the labour and manpower minister from September 2011 to May 2012 when 238 employees had been appointed in defiance of a court ban on hiring in the Employees Old-Age Benefit Institution (EOBI)...

    PPP leader Syed...

  • EOBI's subsidiary company termed 'illegal', corruption unearthed

    KARACHI: The very existence of the Pakistan Real Estate Investment and Management Company (Primaco), a subsidiary of the Employees Old Age Benefits Institution (EOBI), has been found to be 'illegal' while corruption has also been uncovered at the organisation, DawnNews reported...

    According to the report, the existence of Primaco is illegal as it is against the 1976 Act of EOBI...

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