PM Shehbaz likely to raise EOBI pension on Labour day

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif is likely to unveil a worker-friendly package on May 1, Labour Day, ARY News reported citing sources.

According to sources, the prime minister is expected to announce labour-friendly policies, including a potential 10% increase in the Employees’ Old-Age Benefits Institution (EOBI) pension.

Sources revealed that an additional Rs7-8 billion may be allocated to the EOBI pension budget, raising the total budget to approximately Rs68 billion.

On last labour day, Prime Minister (PM) Shehbaz Sharif said that they were fully cognizant of the value of the labourers and workers in the national economy and stressed upon the wealthy, businessmen, investors and industrialists to prioritise improving the conditions of the workers.

Addressing a gathering of labourers and workers from different sectors at his residence in connection with the observance of International Labour Day, the prime minister said that country’s economic situation was challenging but they were striving to turn it around, with collectively efforts and sincerity.

He said that Pakistan would soon become a powerful country through a functioning of a fair system and on the basis of hard work by the employers and the employees including workers.

The prime minister said that the government was striving to bring about substantial changes in the national economy and to recover billion of rupees being wasted due to corruption.

Referring to his recent visit from the Kingdom of Saudi Arabia, he said that the Crown Prince Mohammed bin Salman and other leadership desired to see Pakistan moving on the path of progress.

The Saudi business and investors’ delegation would soon visit Pakistan which would increase businesses and job opportunities in the country, he added.

PM Shehbaz further said that in the upcoming fiscal budget, they would try to provide further relief to the labour class.