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ISLAMABAD: Federal Cabinet has directed the Ministry of Overseas Pakistanis & Human Resources Development to hire Chairman of Employees' Old-Age Benefits Institution (EOBI) from the private sector and offer a market-based package, well-informed sources told Business Recorder.

On July 6, 2021, the Overseas Pakistani & Human Resources Development Division apprised the Cabinet that the Employees' Old-Age Benefits Institution (EOBI) was an autonomous body working under the administrative control of the Ministry of Overseas Pakistanis & Human Resource Development and was established under the EOB Act, 1976. The EOBI Scheme provided old-age pension, invalidity (sickness) and survivors' pension & old-age grant to the insured persons. As per Section 6 of EOB Act, 1976, the management and administration of the institution and its fund were entrusted to the Board of Trustees (BoT), which with assistance of the Chairman managed the affairs of the institution.

In the backdrop of the Federal Cabinet's approval to the Terms of Reference (ToRs) of Chairman EOBI, the advertisement was published in the leading newspapers of the country.

A total of 13 applications were received and six were short-listed. The Prime Minister nominated Dr Ishrat Hussain, Advisor to the Prime Minister on Institutional Reforms & Austerity, as Chairman of the Selection Board for conducting interviews for the post of Chairman EOBI.

Accordingly, the short-listed candidates were interviewed on May 3, 2021. The panel of three candidates recommended in order of merit, to the post of Chairman EOBI were: (i) Azhar Hameed S/o Hameed Khan (first); (ii) Brig Zahid Nawaz Mann, SI(M), (Retd) S/o Muhammad Nawaz Mann (second); and (iii) Omer Saeed Malik S/o Muhammad Saeed Malik (third).

On the recommendations of the Selection Board, the Ministry of Overseas Pakistanis and Human Resource Development recommended Azhar Hameed as Chairman EOBI for a term of two years.

During a discussion, the members observed that EOBI is an important organization with huge assets and none of the members possessed requisite credentials to head such an organization. Overseas Pakistanis and Human Resource Development Division noted that being a BS-21 post, it was difficult to attract well-qualified individuals. It was suggested that the position be re-advertised after revising the pay package commensurate with the market.

After a discussion on the summary submitted by the Overseas Pakistanis and Human Resource Development Division, the cabinet directed that the position be re-advertised.

Copyright Business Recorder, 2021

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