Prime Minister Shehbaz Sharif is expected to unveil a package for workers on May 1, Labour Day.
The package could include a 10 per cent increase in pensions from the Employees’ Old-Age Benefits Institution (EOBI). Sources also suggest that an additional Rs7-8 billion may be added to the EOBI pension budget, which would bring the total to around Rs68 billion.
Last year, on Labour Day, PM Sharif recognised the importance of workers to Pakistan’s economy and urged wealthy business leaders, investors, and industrialists to improve conditions for workers.
Speaking at an event with workers from various sectors, the Prime Minister acknowledged the country’s challenging economic situation but expressed hope that, through collective effort, Pakistan would soon begin to recover.
He also emphasised that Pakistan’s success depends on a fair system built on the hard work of both employers and employees. The Prime Minister said the government is working to make significant changes to the economy and recover billions of rupees lost to corruption.
In addition, he mentioned his recent visit to Saudi Arabia, where Crown Prince Mohammed bin Salman and other leaders expressed a desire to see Pakistan progress. He also announced that a Saudi business delegation would visit Pakistan soon, which could bring new business and job opportunities to the country.
Looking to the future, the Prime Minister stated that the upcoming fiscal budget would aim to offer further support to the labour community.
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