Govt hints at imposing pension reforms

Government has planned to raise the retirement age to control the expenses related to pensions and value of rupee has stabilised. We have a good negotiations with the Saudi business delegation, says finance minister.

Accompanying by information and law ministers, Muhammad Aurangzeb told a news conference that for the last 10 months, the economic goals are going in the right direction. It is very important to reduce deficit and expenditure, the finance minister said, adding interest rates will come down.

He added that they are also in touch with investors from the US and the Europe.

Law Minister Azam Nazeer Tarar said that that the national economy depends on political stability. Pension reforms will be introduced to reduce the pension burden. He added the House has passed the law to reform the tax laws. Infrastructure reforms are part of our agenda. A country that is economically stable will develop, he added.

Speaking on the occasion, Minister of Information Attaullah Tarar said that the expenditure was reduced as soon as the government took over. Pension reforms are planned to be imposed on all government institutions. Proposals on pension reforms are under consideration.

He added the country stands at an important juncture where reforms are necessary.

The minister further said the country’s economy has moved in the right direction.

International institutions are also confirming the economic stability of the country, Tarar said.