EPWA Raises Concerns Over EOBI Investment Plans, Calls for Pensioners’ Representation
Association leaders urge reforms to EOBI laws, greater transparency in investment decisions, and stronger protection of social pensioners’ rights during a key meeting in Karachi.
EPWA leaders discuss EOBI reforms and pensioners' rights during a meeting in Karachi.
KARACHI, EOBI investment policies, pensioners’ rights, and institutional reforms dominated a high-level meeting of the Employees’ Pensioners Welfare Association (EPWA), chaired by Azfar Shamim, as members voiced concerns over proposed investment plans and called for greater transparency and stakeholder representation.
The meeting reviewed EPWA’s organizational activities, discussed strategies to safeguard the rights of social pensioners, and outlined the association’s future agenda. Participants also examined recent developments involving the Employees’ Old-Age Benefits Institution (EOBI) and the Capital Development Authority (CDA), focusing on their potential impact on pensioners.
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The session was attended by Vice Chairman Mateen Khan, President Naseem Ahmed, Senior Vice President Shams Al-Dhaha Zuberi, Information Secretary Raza Haider, Executive Members Zafar Pasha and Ehtesham-ul-Hassan, Malika (Queen) Afroz Rohilla, and Naushaba Hashmi.
Chairman Azfar Shamim expressed concern over EOBI’s past investment decisions. He claimed that several previous investments had failed to deliver benefits for pensioners. He also stressed the need for greater accountability and transparency in managing pension funds. Furthermore, he called for medical facilities or health insurance for EOBI pensioners and emphasized that EPWA would continue making decisions through collective consultation.
Shamim also warned that misleading information circulating on social media had created confusion among pensioners. Therefore, he proposed establishing an official EPWA digital platform to provide verified updates and accurate information to millions of pensioners.
EPWA President Naseem Ahmed voiced reservations about reports of proposed tourism, hospitality, and entertainment projects involving EOBI and the CDA in Islamabad. He said pensioners expect greater consultation on projects linked to their funds and announced plans to meet political leaders to discuss their concerns.
Women’s Wing President Malika Afroz Rohilla urged authorities to include pensioners in discussions regarding any projects financed through EOBI resources. She also called for greater public transparency and suggested holding a press conference on EOBI’s investment policies.
Vice Chairman Mateen Khan referred to the closure of Sahara Insurance Company, established in 2012, and stressed the importance of learning from previous investment experiences. Meanwhile, Executive Member Zafar Pasha said the EOBI Act, introduced in 1976, requires comprehensive amendments to address current challenges and strengthen the institution.
Senior Vice President Shams Al-Dhaha Zuberi proposed a diversified investment strategy for EOBI funds, including allocations to banking, property, and the stock market. He also emphasized the need for prudent financial management to protect pensioners’ interests.
Information Secretary Raza Haider called for engagement with lawmakers to seek amendments to the EOBI law. He also proposed submitting representations to the Governor of Sindh and the Prime Minister to convey pensioners’ concerns through official channels.
Naushaba Hashmi advocated for annual pension increases and stressed that any income generated through EOBI investments should directly benefit pensioners rather than flow into the government’s general revenue.
During the meeting, Salman Ashraf, Vice Chairman of V Trust, and Zahid Askari, Trustee of V Trust, congratulated EPWA’s newly elected leadership and pledged continued support for the association’s efforts to protect the rights of social pensioners.
Although Prof. Malik Muhammad Shafi, Chairman of V Trust, could not attend because of illness, he conveyed his best wishes and reaffirmed his support for EPWA’s leadership.
The meeting concluded with a luncheon hosted by V Trust, where participants appreciated the organization’s continued cooperation and contributions to the welfare of social pensioners.
