ISLAMABAD, JUL 16: Prime Minister Shehbaz Sharif, chairing the federal cabinet on Wednesday, approved several major decisions, including a 15% increase in the Employees Old Age Benefits Institution (EOBI) pension and the extension of the import of unregistered life-saving drugs for five more years.
According to the official announcement, the EOBI pension will be raised from January 1, 2025, with the increase being funded through the institution’s own financial resources. The PM also directed the formation of a cabinet committee to propose structural reforms in EOBI, with special focus on extending coverage to the unorganized labour sector, including domestic workers and those involved in agriculture.
“Employees who have been overlooked for years will now get their due rights through these reforms,” the cabinet statement emphasized.
In the health sector, the cabinet approved the continued import of unregistered medicines, including drugs for cancer, heart disease, and other life-threatening conditions, strictly for use in hospitals and specialized institutions. The move, approved for the next five years, aims to ensure uninterrupted access to critical treatments.
The cabinet clarified that:
These medicines will not be available in the open market.
First approval from the licensing authority will be mandatory for their import.
On the legislative front, the cabinet also considered the Sea Carriage Shipping Documents Bill and approved the initiation of necessary legal procedures regarding the draft.
During the session, PM Shehbaz Sharif reiterated the government’s commitment to economic development and GDP growth, stressing that performance-based evaluations of ministries are now underway. He announced that Key Performance Indicators (KPIs) would be set for each ministry for two-month periods, and the results would guide decisions on commendations or disciplinary actions.
The PM also addressed concerns about the performance of the Public Sector Development Programme (PSDP) and praised Minister for Planning Ahsan Iqbal for exceeding expectations.
“Questions were being raised about PSDP’s performance this year, but Ahsan Iqbal has pleasantly surprised me,” said the Prime Minister.
“The development budget has now crossed Rs1 trillion. Congratulations to Ahsan Iqbal.”
PM Shehbaz concluded with a strong message on accountability and reform: “We will identify shortcomings and take corrective actions where needed. I won’t hesitate to take disciplinary measures if required. But those who deliver will always have my full support.”
He remarked that everyone was working together to achieve GDP growth and economic development.
EOBI PENSION
EOBI PENSION INCREASE
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