The announcement was made by Federal Finance Minister Ishaq Dar during a press conference in Islamabad today.
The Finance Minister said government has decided to increase the pension of the EOBI subscribers from Rs. 3600 to Rs. 5250 per month.
“The increase will be effective from April 1 and the pensioners will receive the revised amount on the Labour Day [May 1]”, he informed.
Ishaq Dar said 3, 3700 pensioners and their families will be benefited from the increase in pension, adding that the overall impact of Rs. 6.67 billion due to the rise will be borne by the Federal Government and EOBI equally.
The Finance Minister said that the subject of EOBI has been devolved to the provinces under the 18th Amendment of the Constitution. He said the government is making efforts to resolve the issue once for all but the benefits of the pensioners could not be stopped till then.
Speaking about China-Pakistan Economic Corridor (CPEC), Ishaq Dar said that all political parties would be taken into confidence on the matter.
In reply to a question, he said that the Prime Minister Nawaz Sharif will brief political parties on CPEC upon his return from abroad.
Dar further informed that during his visit to the United States, multilateral institutions acknowledged economic policies and programmes of the present government of Pakistan.