Budget 2024 has Nothing for EOBI Pensioners

The Federal Finance Minister, Muhammad Aurangzeb, announced the budget for 2024 on June 12, 2024. During his address, he highlighted several key aspects aimed at improving the financial well-being of various sectors, including a 15% increase in the pensions of retired government employees. However, notably absent from his speech was any mention of an increase in the pensions for Employees’ Old-Age Benefits Institution (EOBI) pensioners.

EOBI pensioners have been receiving a stagnant monthly pension of Rs. 10,000 for many years, despite the rising cost of living and inflation. This omission has raised significant concerns among the elderly population reliant on EOBI pensions for their livelihood. The EOBI scheme, designed to provide financial assistance to retired workers from the private sector, has not seen any substantial adjustments to match the economic realities faced by pensioners.

The silence of the government on this issue has led to widespread dissatisfaction and a growing sense of neglect among EOBI pensioners. Many question why the government has not taken steps to address their plight, especially when the financial needs of retired government employees have been recognized and addressed. The disparity between the treatment of government and EOBI pensioners is stark and has become a point of contention.

Inflation in 2024 has further exacerbated the financial difficulties faced by EOBI pensioners. Basic necessities such as food, healthcare, and housing have become increasingly expensive, making it challenging for pensioners to make ends meet on a fixed income that has not kept pace with economic changes.