Latest news with #Rs2.47
Express Tribune
23-04-2025
- Business
- Express Tribune
Hike in EOBI pensions from May 1
The Public Accounts Committee (PAC) was informed on Wednesday that the age of Employees Old-Age Benefits Institution (EOBI) beneficiaries will be determined on the basis of the CNIC record instead of matriculation certificate, and the pensioners will get a raise in their pensions from May 1. The committee was also told that EOBI disbursed Rs2.79 billion among 5,131 fake pensioners. A meeting of PAC under the chair of Junaid Akbar vetted the audit paras of the Ministry for Overseas Pakistanis. During the meeting, the audit officials informed the committee that EOBI had disbursed Rs2.79 billion to ineligible or fake pensioners. According to the audit report, out of approximately 800,000 pensioners, the data of over 5,000 individuals was found to be incorrect. Pensions were issued to people whose dates of birth did not match between their CNICs and matriculation certificates. In some cases, men under 60 and women under 55 were receiving pensions, in violation of eligibility criteria. The audit officials revealed that age manipulation was used to grant pensions to more than 5,000 unqualified individuals. EOBI officials informed the committee that the institution's fund currently stands at Rs600 billion. They added that there are around 10 million businesses in the country, and any business with at least 10 employees is required to register with the EOBI. They said they verify the age of the beneficiaries through CNIC and other sources. The Ministry of Overseas Pakistanis secretary said that pension cases would be settled now on the basis of the CNIC, adding that EOBI pensions will be raised from May 1. PAC chairman Junaid Akbar Khan said there should be a standard criteria for determining the age of the pensioners. The EOBI chairman said they would now issue pensions based on CNICs using NADRA's data. The Ministry of Overseas Pakistanis secretary requested a month's time to rectify issues. The committee directed the ministry to investigate the matter and submit a report within a month. Audit officials also disclosed that EOBI had not recovered Rs2.47 billion from 2,864 institutions. The EOBI officials said these institutions did not register their full workforce and did not pay their due amounts. EOBI has recovered Rs1.53 billion but still working on recovering Rs1 billion, partially because some recovery cases were stuck in court. The committee chairman directed the EOBI officials to complete the recovery within a month.
Express Tribune
26-02-2025
- Business
- Express Tribune
PAC seeks action on power defaulters
The Public Accounts Committee (PAC) on Tuesday summoned details of the top 300 defaulters, as both public and private entities owe trillions to power distribution companies (DISCOs). Due to the failure of DISCOs to recover outstanding dues, the national exchequer has suffered a loss of Rs877 billion. A PAC meeting, chaired by Junaid Akbar, reviewed the audit objections related to the Power Division for the fiscal year 2023-24. The session was apprised that DISCOs had pending recoveries of over Rs877 billion from defaulters during the financial year 2022-23. An audit report revealed massive outstanding dues across various power distribution companies (DISCOs). In FESCO, 513 consumers collectively owe Rs2.47 billion. HESCO has 5,900 consumers with unpaid dues amounting to Rs44.46 billion. Meanwhile, LESCO faces arrears of Rs16.1 billion from 3,736 consumers. PESCO has 824 consumers who owe Rs8.6 billion, while QESCO's outstanding dues stand at a staggering Rs603.35 billion from 2,428 consumers. SEPCO is owed Rs119.837 billion by 342 consumers. TESCO has 146 consumers with unpaid bills totalling Rs6.17 billion. Meanwhile, IESCO's outstanding dues amount to Rs200 million from 142 consumers. Audit officials informed the committee that 118 letters had been sent to the Power Division for recovery efforts, with QESCO having the highest number of unresolved cases. During the session, committee member Khalid Magsi expressed frustration over Balochistan's deteriorating law and order situation, claiming that movement in the province has become nearly impossible. He said that people in Balochistan are left with no option but to take up arms, alleging that BLA operatives roam freely in the streets. He further asserted that dues recovery in Quetta was no longer feasible, saying the Balochistan government was itself the biggest defaulter. In response, the Power Division Secretary informed the committee that DISCOs have submitted working papers for the recovery of Rs162 billion, pledging to personally monitor the progress. The PAC chairman instructed the auditor general to verify the claim by the next session and directed the Power Division to conduct two Departmental Accounts Committees (DACs) each month, with a monthly report on recoveries. The committee also scrutinised DISCOs' failure to remove outdated electrical equipment and recover outstanding dues exceeding Rs501 billion. It was revealed that DISCO officers had been availing free electricity, prompting the Power Secretary to announce that the federal government has decided to discontinue free electricity units.
