THIS is in reference to letters by Pakistan State Oil (April 29 and May 2). The PSO media manager claimed that the yearly increase in pensions for FY 2017 was approved by the PSO Board of Management “recently” and would be paid as decided.

The truth is that FY 2016-17 started on July 1, 2016 and now will be ending on June 30. As such the board’s approval should have been taken during July-Sept 2016 so that the increase could be implemented in time. The PSO management failed to do so. This resulted in an abnormal delay in the release of the annual.

During the tenure of the preceding MD and CEO our annual increase for FY 2016 was announced on June 15, 2015 and was paid on the due date i.e. July 1, 2015. It was on an identical formula as was adopted for increases in remunerations for the rest of management employees.

Irrespective of facts mentioned above, the recent pension increase announced by the PSO Management for the financial year 2017 is only 2.90pc which is contrary to the heavy increases in remunerations announced for the present MD and reflecting an increase by 122pc.

Unfortunately, PSO has failed to comment on one of our core demands regarding an increase in widows’ pension from 50pc to 75pc with effect from July 2010 as approved by the President of Pakistan vide notification F.2 (3)-Reg.6/2010/86 dated July, 2010. The PSO management should re-examine our recent pathetic increase of 2.9pc.

Jawaid Ahsan Khan Lodhi
President
PSO Pensioners Association

Published in Dawn, May 23rd, 2017