ISLAMABAD: The federal cabinet has approved a 15 per cent hike in pensions for Employees’ Old-Age Benefits Institution (EOBI) pensioners, starting from January 1, 2025.
The government said that the increase is aimed at providing financial relief to retired senior citizens, relying on these pensions.
Addressing the cabinet meeting, Prime Minister Shehbaz Sharif said that the performance of ministries will be evaluated every two months. He said key performance indicators will be determined for this purpose.
Furthermore, the premier annocued that the ministries demonstrating strong performance will be commended. “Those ministries with shortcomings will be promptly addressed through corrective or disciplinary measures.”
The Prime Minister also expressed satisfaction over Pakistan Stock Market, saying that the high performance of PSX reflects the positive business sentiment.
He said collective efforts are being made for the economic growth of the country, expressing the confidence that by the grace of Allah Almighty, these will bear fruit.
Prime Minister also praised the peaceful conduct of Muharram processions nationwide. He extended his congratulations to the entire nation, the Chief Ministers of all four provinces, and Interior Minister Mohsin Naqvi for ensuring smooth and peaceful religious gatherings amid security challenges.
PM Shehbaz also spoke about disaster preparedness amid the ongoing monsoon and commended the efforts of NDMA for making arrangements to cope with heavy rains in different parts of the country.
He expressed sorrow over the loss of lives due to heavy rainfall in various parts of the country, specifically the tragic incident in Swat. He said it was an unfortunate incident and emphasized the need to learn lessons from it and implement measures to prevent similar tragedies in the future.
