EOBI to become bankrupt if pension increased, Supreme Court told

The Supreme Court was informed on Tuesday that Employees Old-Age Benefit Institute (EOBI) funds may dry up by 2025 if it gives a go-ahead to increase pension. The Deputy Attorney General for Pakistan Sajid Ilyas Bhatti appeared before a three-judge bench of Justice Anwar Zaheer Jamali in a case of involvement of former Chairman of EOBI Zafar Iqbal Gondal and others in mega scam.
Submitting a report in response to the court directives in the matter, Bhatti contended that if increase in pension was approved in the matter, the EOBI would become bankrupt to which Justice Jamali observed the court didn't want to do so but to increase the amount of pensions. However, seeking a detailed report from the EOBI in the matter, the bench adjourned hearing of the case to be resumed on Wednesday (today).