SC expresses annoyance over transfer of EOBI funds to flood, quake victims

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Changing rules regarding ECP appointments challenged in SC

ISLAMABAD: The Supreme Court on Monday expressed its annoyance over transfer of funds of Employees Old-Age Benefits Institution to Pakistan Bait-ul-Mal and victims of floods and earthquakes.
A three-member bench of the apex court headed by Justice Sheikh Azmat Saeed heard a suo moto notice case regarding misuse of EOBI’s funds.
The apex court directed the EOBI to pay the pension to retired employees by returning the property it had purchased at a high price.
Justice Azmat Saeed remarked that Rs1.5 billion was withdrawn from the EOBI accounts and asked why the amount had not yet been returned to the organization.
The judge asked why a contempt of court proceeding should not be initiated against the head of Pakistan Bait-ul-Maal for sending a lawyer who had no knowledge of the case.
The court directed the EOBI to return Rs1.5 billion till the next hearing on March 15. …APP

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