EOBI gains global recognition at ILO conventions: minister
He noted that the Employees' Old-Age Benefits Institution (EOBI) has gained international recognition and has been commended at International Labour Organization (ILO) conventions in Geneva — underscoring its credibility and importance.
The Minister made these remarks at a high-level seminar titled 'Ease of Doing Business for the IT Industry,' held at the Prime Minister's Office. The event was jointly organized by EOBI and the Special Investment Facilitation Council (SIFC), and brought together key government officials and leaders from Pakistan's tech ecosystem.
Among the attendees were Federal Minister for Information Technology & Telecommunication Shiza Fatima, Secretary OP&HRD Nadeem Aslam Chaudhry, Director General SIFC and his team, as well as representatives from the Pakistan Software Houses Association (P@SHA).
In his opening remarks, Dr. Jawaid Ahmed Sheikh, Chairman EOBI, highlighted the institution's central role in providing pension benefits and long-term financial security to workers in cases of retirement, disability, or death. He reaffirmed EOBI's commitment to evolving alongside the dynamic needs of the IT sector.
Sajjad Mustafa, Chairman of P@SHA, thanked EOBI for initiating this important dialogue and proposed the formation of a joint working group to collaboratively address challenges related to contribution recovery and compliance.
Echoing this sentiment, Ali Hasani, Secretary General of P@SHA, welcomed the establishment of a dedicated help desk for the IT sector, viewing it as a model that could inform consistent policy implementation across other industries.
A technical presentation by Muhammad Amin, Deputy Director General Operations at EOBI, provided an overview of the organization's comprehensive social protection framework—which includes support not only for retirement, but also in cases of disability and death, tailored for the needs of the modern workforce.
Federal Minister for IT & Telecommunication Shaza Fatima stressed the need for digital transformation, responsive service delivery, and regulatory agility to keep pace with the fast-changing tech landscape. She endorsed the proposal for a joint working group, recognizing its potential to close the gap between policy and execution.
The seminar concluded with a shared commitment to strengthening institutional collaboration and aligning policies to create an enabling business environment for IT companies—while upholding internationally recognized standards of worker protection in Pakistan.
Certificates of appreciation were awarded to key IT sector employers in recognition of their contributions to EOBI.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
7 hours ago
- Business Recorder
TSX hits new record high after Bank of Canada's rate decision
Canada's main stock index slightly moved past a record high on Wednesday after the Bank of Canada's rate decision, while investors looked for potential trade updates as the August 1 tariff deadline drew closer. The S&P/TSX composite index was up 0.05% at 27,554.54 points. The BoC, as expected, held its key policy rate at 2.75% for the third time in a row, saying the risk of a severe and escalating global trade war had diminished. The U.S. Federal Reserve's rate decision, due later in the day, will also be in focus. The deadline for Canada to reach a trade deal with the U.S. to avoid facing a 35% tariff on its goods imported to the south of the border is set for August 1. U.S. ambassador to Canada Pete Hoekstra said on Tuesday he hoped the trade deal would be reached 'very soon'. 'It seems that the August 1 deadline is movable in Canada's sake, if need be…it's been moved once and could be moved again', said Douglas Porter, chief economist at BMO Capital Markets. Porter said President Donald Trump appears eager to tie up loose ends by the end of the week, adding, 'We may hear some news…investors will be a little bit more cautious than usual, with all those potential uncertainties'. Meanwhile, two days of U.S.-China talks ended with both sides agreeing to seek an extension of their tariff truce, set to expire on August 12. U.S. officials said it would be up to Trump to approve the plan. On the TSX, technology stocks rose 1% ahead of earnings reports from Wall Street's tech heavyweights, due after the bell. Celestica continued gains from previous session with a 5.8% rise. Energy subindex fell slightly as oil prices steadied. Among individual stocks, Parex Resources rose 4.3% after reporting second-quarter results. Data showed that the U.S. economic growth rebounded more than expected in the second quarter.
Business Recorder
17 hours ago
- Business Recorder
Australia shares tread water ahead of domestic inflation data
Australian shares traded in a narrow range on Wednesday, as gains in energy stocks were offset by losses in the technology sector, with investors refraining from placing risky bets ahead of the local inflation print due later in the day. The S&P/ASX 200 index was largely flat at 8,703.9 points by 0016 GMT. It had closed 0.1% higher on Tuesday. The focus remains on the domestic quarterly inflation data, which will either make or break the case for an interest rate cut by the Reserve Bank of Australia next month. Forecasts pointed to a 0.7% quarterly rise in the policy-relevant trimmed mean measure, slightly above the central bank's expectations. On the Sydney bourse, traders remained cautious, with technology stocks dipping about 0.6%, tracking overnight losses on Wall Street after some disappointing corporate earnings. Logistics software maker WiseTech Global fell as much as 1.5%, while Xero shed about 1%. Real estate stocks eased 0.2%, with sector major Goodman Group losing about 0.4%. However, energy stocks rose 0.7%, mirroring a rise in oil prices as U.S. President Donald Trump ramped up pressure on Russia over its war in Ukraine and on hopes that a trade war between the U.S. and its key trading partners was easing. Financials gained 0.2%, led by a 0.4% rise in the country's largest lender, Commonwealth Bank of Australia. Among individual companies, lithium miner Pilbara Minerals climbed as much as 3.9% after an upbeat fourth-quarter production update and a strong 2026 output forecast. New Zealand's benchmark S&P/NZX 50 index traded flat at 12,934.41 points.
Business Recorder
a day ago
- Business Recorder
Highnoon forges alliance with BD's Beximco
KARACHI: Highnoon Laboratories Limited, a prominent Pakistani pharmaceutical company, announces a significant strategic partnership with Beximco Pharmaceuticals Limited, a leading pharmaceutical firm based in Bangladesh. The collaboration aims to enhance the availability of specialised pharmaceutical products in Pakistan, focusing on critical therapeutic areas such as respiratory, diabetes, and cardiovascular diseases. The partnership was formalised through the signing of a Memorandum of Understanding (MoU) between the two companies. This alliance is set to introduce newer therapies, advanced dosage forms, and innovative drug delivery systems to the Pakistani market, promising improved ease of use and better clinical outcomes for patients, while simultaneously enhancing access to advanced medications. Beximco Pharmaceuti-cals Limited brings to the table state-of-the-art manufacturing facilities, which have received accreditation from stringent regulatory authorities across the globe, including the USA, Australia, the European Union, Canada, and Brazil. This robust accreditation underscores Beximco's commitment to quality and international standards. Highnoon Laboratories Limited, recognised as a recipient of Forbes Asia's 'Best Under A Billion' award in 2023, views this strategic alliance as a pivotal step. According to the disclosure made to the Pakistan Stock Exchange Limited, the company believes this partnership will not only benefit patients in Pakistan but also significantly contribute to the ongoing expansion of trade relations and economic cooperation between Pakistan and Bangladesh. The collaboration is expected to bring substantial advancements to Pakistan's healthcare sector, offering new hope and improved treatment options for patients suffering from high-burden diseases. Copyright Business Recorder, 2025
