EOBI has only 30 percent data of workers: chairman

Employees Old-Age Benefit Institution (EOBI) Chairman Asad Ullah Shaikh has said that EOBI has only 30 percent data of workers out of total contributions it receives from various organisations. Addressing the members of Korangi Association of Trade and Industry (Kati) on Saturday, he said that various organisations contributing to the fund but did not supply full data of employees.
He advised the management of companies and employers to provide full data of employees so that after getting retired they must get pension. He said the department is computerising its entire operation, which is likely to be finalised by the end of current fiscal year. The EOBI complete accounts are already available on its website, he added. Replying to a question, he said that EOBI investing its funds in various schemes, including real estate, stock market, hotels, etc to get better rate of return.
Replying another question of including more person on its board of directors and chairman from private sector, he said that it is a matter of concern of higher authorities. However, he said that the EOBI board of director consists of 16 members out of them eight are from government side, four representative of employees and equal number of employers. Each province has one representative from employees and employers, he added.
Replying another question of de-listing of companies gone out of production, he assured that after receiving complete information and record the company would be de-listed. Referring to issuance of revised pension stickers, he said that the department has decided to establish camp officer in different cities and places to expedite issuance of stickers.
Kati Chairman Shaikh Fazl-e-Jalil said that in present economic crisis de-industrialisation has been started owing to declining profitability, non-availability of power, high cost of doing business, etc. He said the EOBI must be restructured and re-designed, including more representatives of private sector on its board.
He suggested more frequent contact between the EOBI official and the business community to resolve day to day issues. He also suggested that EOBI should establish vocational training institutes to enhance productivity of labour. He also suggested that management of EOBI should be handed over to the private sector.