EPWA rejects govt’s meagre increase in pension

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EPWA rejects govt’s meagre increase in pension

General Secretary Alamdar Hussain of the EPWA stated in a statement that the government enhanced their pension in the budget from Rs8,500 to Rs10,000.

According to him, more than 500,000 Pakistani retirees who received the Rs1,500 increment after three and a half years from their money accumulation rejected it.

In this most difficult time of inflation, it has been stated in the declaration, Rs 10,000 cannot even buy one day’s worth of bread. It questioned how the sum could be adequate for a full month. The association asked that the government raise the monthly minimum pension to Rs. 25,000.

The government is required by the 1976 Act to deposit the matching grant (or similar fund) with the EOBI. The EOBI pensioners, who built the nation and spent 40 years of their lives working in institutions, are unable to perform any labor. The statement stated that these frail pensioners were viewed as powerless since they were unable to act.

“The government stopped this matching grant in 1995. With its capital of Rs500 billion, the institution is still the richest in the nation after 28 years without the grant’s restoration.

This institution is carrying its burden, according to the disclosure, and if the matching grant is reinstated, the pension for these retirees may rise by Rs30,000 to keep up with inflation.

The general secretary urged Shehbaz Sharif, Asif Ali Zardari, Bilawal Bhutto-Zardari, and Sajid Khan Turi, the federal minister for overseas Pakistanis and human resource development, to reinstate this grant and protect the pensions from economic destruction.

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