NA panel told: EOBI expands investment portfolio to Rs643.59bn

ISLAMABAD: A parliamentary panel was informed on Thursday that Employees’ Old-Age Benefits Institution (EOBI) has expanded its total investment portfolio to Rs643.59 billion, with investment income reaching Rs80.16 billion in the FY25.

Briefing the National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development, acting EOBI Chairman Dr Jawaid Shaikh said nearly half of the institution’s portfolio – 48 per cent – had been invested in government securities.

The remainder was allocated across equities (25 per cent), real estate (25 per cent), and corporate fixed deposits (2 per cent).

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He said the EOBI’s investment income had more than doubled over the past five years, rising from Rs38.41 billion to Rs80.16 billion.

Despite the institution’s robust financial standing, Shaikh admitted that staffing levels remain critically low – less than 50 per cent of the sanctioned strength.

A senior official from the Ministry of Overseas Pakistanis assured the committee that recruitment for 200 officers is in its final stages.

The committee members, however, voiced concern over the institution’s limited reach.

Committee Chairman Agha Rafiullah said that large segments of the workforce – including fishermen and agricultural workers – remain excluded from EOBI coverage.

Shaikh responded that expanding the workforce would allow for broader coverage across all sectors of the economy. He claimed that EOBI had resolved 99 per cent of pending claims during FY25.

However, Rafiullah disputed that figure, noting that at least 600 claims remain unresolved. “These pending claims mean 600 families are being denied their rights,” he remarked.

Sheikh also cited post-18th Amendment legal and administrative obstacles, explaining that with labour now a devolved subject, EOBI faces difficulties enforcing minimum wage-based contributions uniformly across provinces.

Copyright Business Recorder, 2025