The Cabinet authorizes a 15% increase in EOBI pensions starting in January 2025.

Under Prime Minister Shehbaz Sharif’s leadership, the federal cabinet has authorized a 15% pension increase for Employees’ Old-Age Benefits Institution (EOBI) pensioners, which will take effect on January 1, 2025.

During a cabinet meeting that covered important political and economic issues, the decision was made. The goal of the pension increase is to give retired workers nationwide financial relief.

Speaking at the meeting, Prime Minister Shehbaz Sharif praised Interior Minister Mohsin Naqvi, provincial chief ministers, and the country as a whole for making sure that Muharram celebrations were held peacefully.

As the monsoon season continues, the PM also discussed disaster preparedness. To guarantee the best arrangements, he claimed to have presided over a high-level meeting with the Provincial Disaster Management Authorities (PDMAs) and the National Disaster Management Authority (NDMA). He applauded NDMA’s efforts in preparing for the country’s heavy rainfall in various regions.

He conveyed his sadness over the deaths brought on by the country’s heavy rains, particularly the terrible event in Swat. He described the incident as regrettable and underlined the importance of taking lessons from it and putting policies in place to stop tragedies like this one from happening again.

Regarding the economy, PM Shehbaz was pleased with the recent upward trends in macroeconomic metrics. He reaffirmed his government’s emphasis on service delivery and performance, stating that ministry performance would be assessed every two months.

The prime minister emphasized, “I want to make this message very clear—it is all about delivery and service to the nation.” He went on to say that while ministries that perform well will be recognized and given credit, those that don’t will be held responsible and questioned.

He also commended Federal Minister for Planning Ahsan Iqbal for his ministry’s efficient use of development funds during the meeting, pointing out that the Public Sector Development Programme (PSDP) had spent more than Rs 1 trillion on development.