FROM MENAHILL RASHID
FAISALABAD. National Textile University (NTU) has launched the first ever “Pakistan Textile Portal” to facilitate the textilers.
Inaugurating this portal in Faisalabad Chamber of Commerce & Industry (FCCI) in a simple ceremony, President FCCI Mr. Atif Munir Sheikh underlined the importance of the textile sector in the national economy and said that Faisalabad is the iconic representation of the textile sector. “We have the privilege to contribute 46% share in total textile export of Pakistan”, he said and added that this portal would have all types of textile related information and play a major role in achieving the ambitious export targets. He further said that industrialists and businessmen related to the textile sector must switch…
[9:17 pm, 28/01/2022] Editor In Cheif : FROM MENAHILL RASHID.
FAISALABAD. Employers, employees and Government must make sincere and collaborated efforts to continue welfare scheme “Employees’ Old-Age Benefits Institution” (EOBI) on sustained basis as its funds would start depleting from 2031 and may wipe out in 2037 if immediate and futuristic measures were not taken, said Mr. Shakeel Ahmed Mangnejo Chairman EOBI.
Addressing the business community in the Faisalabad Chamber of Commerce & Industry (FCCI), he said that this scheme was launched for the sustenance of the old and registered workers. “Employer’s contribution was 5% while 1% was deducted from the employee’s salary for it”, he said and added that Government was also contributing but in mid-1990, government stopped paying its share. He said that EOBI was collecting contributions at the minimum salary of Rs. 8000 which has now jumped to Rs. 25,000 in Sindh and Rs. 20,000 in the remaining three provinces. He said that Employers Federation of Pakistan (EFP) had agreed in principle to pay a contribution at minimum salary of Rs. 13,000 but some employers challenged this decision and got a stay order from the court and are still paying their contribution at the minimum salary of Rs. 8,000 only. He stressed uniform contribution rates across the country and said that FCCI should play its role in convincing local employers to pay their contribution as per this decision for the best interest of their workers. Similarly, the Government should also consider paying its due share towards this fund as it is also a beneficiary of this welfare scheme. He said that employers who are paying less contribution are just focusing on temporary relief as at the end of day they have to pay their contribution at an enhanced rate which would add sudden and excessive burden on their financial resources. He said that new EOBI law was under consideration which would offer a self-assessment scheme with multiple benefits for the employers while expat workers could also join this scheme by paying their due contribution. He hinted at giving relief in audit to the small power looms, sizing and foundry units and assured that the EOBI officials would not insist on provision of PR-02 form for the previous years. Similarly, officials of EOBI, Labor and Social Security would conduct one time inspection in a year which would save employers from unnecessary hassle due to repeated and separate visits by these departments. Responding to a question, he said that EOBI is collecting a total contribution of Rs. 31 billion while we are paying a pension of up to Rs. 40 billion. He said that currently EOBI is paying pension to 6,97,000 workers while more than 9 lac cases are still in the pipeline. He said that the total assets of EOBI are around Rs. 500 billion which has been invested in Government securities. He said that as per new laws we could not make further investment in national savings however we have forwarded a case to the economic coordination committee to give special permission to EOBI to make further investment in national savings for the safety and security of the money meant for the poor segment of the society. About Faisalabad region, Mr. Shakeel Ahmed Mangnejo said that we are getting Rs. 1.9 billion as contribution while paying a pension of Rs. 2.5 billion and this imbalance must be corrected for sustained distribution of pension to the EOBI workers of this region. About the representation of FCCI in the Board of Trustees (BOT), he said that there are many chambers in the country and they have to maintain a balance in the numbers of employees and employers, hence FCCI should present a viable proposal which could be discussed and processed at the highest level.
Earlier Mr. Atif Munir Sheikh President FCCI said that Faisalabad is the third largest industrial, commercial and business conglomerate of Pakistan. “It is the second largest city in revenue generation and job creation”, he said and added that textile is the iconic representation of this city while after the colonization of M3 and Allama Iqbal Industrial Estates, it would emerge as the largest hub of industry. He said that this city alone was contributing 46% share in total textile export of Pakistan while in overall exports, its share is about 22%. He said that it has a unique privilege to fulfill 80% of the clothing needs of the country. About FCCI, he said that it has 8,000 members which have been segregated into corporate and associate classes. “Similarly, representatives of 113 different trades are also enrolled with FCCI”, he said and added that standing committees have been constituted for each trade to identify its sector specific problems with their viable solutions. He termed workers as a national asset and said that employers are personally looking after their workers by extending them additional facilities from their own resources instead of leaving them only on the mercy of EOBI.
“This trade body is enjoying best working relations with different Government departments in addition to cultivating cordial relations with the foreign embassies and diplomats”, he added.
Deputy Director General EOBI Mr. Zulfiqar Ahmad Grewal also addressed the meeting and briefed about the facilities offered by this institution.
A question answer session was also held while Vice President Rana Fayyaz Ahmad offered a vote of thanks. Later President Atif Munir Sheikh along with Sheikh Ashfaq Ahmad and Mr. Saqib Majeed presented FCCI shield to Mr. Shakeel Ahmed Mangnejo chairman EOBI.
Shakeel Ahmad Ansari and Haji Talib Hussain Rana also gave away a FCCI shield to Deputy Director General EOBI Mr. Zulfiqar Ahmad Grewal.
