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EOBI contribution increases by 21 pc.

ISLAMABAD, October 22, 2009 (Balochistan Times): The revenue contribution of Employees Old-Age Benefit Institute (EOBI) significantly increased by 21 percent during the year 2008-09, says an official report. The institute had set a target of 240,000 insured persons for the registration; however, the registration feedback is significantly higher as 247,062 people have been registered with EOBI so far, says report submitted with Public Accounts Committee (PAC) of the National Assembly. The committee had sought report from the Institute following reports of alleged massive corruption, mismanagement and under-performance of the Institute during the five years. Elaborating the fiver year revenue details, the report said that 139,009 people were registered for insurance against target of 182,600 persons in year 2004-05, thus this years profit margin was highest of the all during the half decade. Meanwhile, the registration of 233,335 persons was recorded in 2005-06 and 223,925 in 2006-07; respectively, mentioned the report, adding that the number was 189,908 during fiscal year 2007-08. The report further said that actual registration of people was higher than the target set during mentioned period except 2004-05 when the Institute failed to achieve target for registration of 182,600 persons and only 139,009 people could be registered. Total 11,640 employers were registered with the EOBI during period from 2004-05 to 2008-09, out of which 4,027 were registered this fiscal year, report elaborated.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Oct 22, 2009
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