November 28, 2007	Wednesday	Ziqa’ad 17, 1428

KARACHI, Nov 27: The Employee’s Old-Age Benefits Institution (EOBI) has registered 26 per cent increase in contribution and collection of workers’ fund in the first quarter of current financial year (July 2007 to September 2007).

This was disclosed by financial advisor and director-general EOBI, Munawwar Opel, in the seventh meeting of the central advisory committee held at the institution’s head office.

He informed the members that the EOBI had distributed an amount of Rs22 billion among pensioners since its inception.

At present, more than 329,000 pensioners are drawing pensions from the institution.

The DG further disclosed that EOBI has registered more than 2,765,000 employees of 56,786 industrial, commercial and other establishments.

The meeting also discussed operational performance of the institution. Matters related to recent amendments in EOBI act were also discussed.

The director-general asked the employers’ representatives to provide details of their employees on which they pay their contribution to EOBI. The committee members agreed that they will pursue the members to provide details of their employees to the institution.

The participants appreciated government decision to enhance minimum pension from Rs1,300 to Rs1,500 per month, an increase of 15 per cent in formula pension.