Federal Cabinet Approves 15% Increase in EOBI Pensions
The federal cabinet, under the leadership of Prime Minister Shehbaz Sharif, has approved a 15 percent increase in pensions for Employees’ Old-Age Benefits Institution (EOBI) beneficiaries, effective from January 1, 2025. The decision was made during a cabinet meeting focused on key political and economic developments, aimed at providing relief to retired workers facing rising living costs.
During the session, Prime Minister Shehbaz Sharif also extended congratulations to the provincial chief ministers and Interior Minister Mohsin Naqvi for maintaining peace during Muharram gatherings. Addressing disaster management efforts, he shared that a high-level meeting was held with the National Disaster Management Authority (NDMA) and Provincial Disaster Management Authorities (PDMAs) to enhance monsoon preparedness. He expressed deep sorrow over recent rain-related casualties, particularly in Swat, and underscored the importance of preventive actions to protect lives.
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On the economic front, the prime minister expressed satisfaction with the country’s improving macroeconomic indicators and announced that the performance of all ministries will now be reviewed every two months. He stressed the importance of delivery and accountability, stating that high-performing ministries would be appreciated, while those falling behind would face consequences. Additionally, he lauded Planning Minister Ahsan Iqbal for effectively utilizing development funds, noting that spending under the Public Sector Development Programme (PSDP) has surpassed Rs 1 trillion.
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