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Charter of the economy : agenda for economic reforms in Pakistan
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Charter of the Economy increased from Rs 171 billion in 2010-11 to Rs 518 billion in 2018-19. This is equivalent to an increase from 0.9 percent of the GDP to 1.4 percent of the GDP. The large interventions are in the domain of social insurance, social assistance, and subsidies. Social insurance includes Federal pensions to employees who at the time of retirement were in BPS 1-11. It is estimated that their share in total pension payments is almost 50 percent. The pensions by EOBI are to retiring workers from private contributing enterprises. The pension has recently been raised from Rs 6500 to Rs 8500 per month. The Government and EOBI pensions had a share of 36 percent in 2018-19 in the total Federal outlay on social protection. Table 30.3: Outlays on Social Protection by the Federal Government 2010-11 Share (%) 2014-15 Share (%) A. SOCIAL INSURANCE 54.9 32.1 121.8 32.5 Pensions 46.4 110.0 EOBI 8.5 11.8 B. SOCIAL ASSISTANCE 36.4 21.3 138.3 37.0 BISP 35.0 91.8 Bait-ul-Maal 1.4 2.0 Internally/Temporarily- 45.0 Displaced Persons C. LABOR MARKET/INCOME 28.7 16.8 14.9 4.0 GENERATION PROGRAMS Youth Program- 7.0 PPAF/Micro Credit 3.0 7.9 National Internship Program 2.9 ­Peoples Works Program 22.8 ­D. SUBSIDIES 51.1 29.8 87.0 23.2 Lower Price of Electricity/ 45.2 78.1 Gas USC 1.6 4.1 PASCO 1.4 4.8 TCP 2.9 ­E. MDGs/SDGs Community ­Development Program 12.5 3.3 TOTAL 171.1 100.0 375.0 100.0 % of GDP 0.9 1.4 Source: Diverse (Rs in Billion) 2018-19 Share (%) 187.0 36.0 171.0 16.0 128.4 24.7 118.7 5.0 4.7 - 0.0 ­­­­179.4 34.6 169.6 1.5 7.3 1.0 24.0 4.7 518.8 1.4 100.0 316