Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Finance Minister Proposes Retirement Age Increase and Pension Restructuring
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Pakistan Economic Reforms
PhotoNews Pakistan > Pakistan > Finance Minister Proposes Retirement Age Increase and Pension Restructuring
Pakistan

Finance Minister Proposes Retirement Age Increase and Pension Restructuring

Web Desk
By Web Desk Published May 7, 2024 2 Min Read
Share
Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar and Law Minister Azam Nazeer Tarar. Photo: Express Tribune
SHARE

Finance Minister Muhammad Aurangzeb proposed increasing the retirement age and restructuring pension payments to reduce economic pressure. He discussed this during a press conference in Islamabad, which followed a cabinet meeting and included Information Minister Attaullah Tarar and Law Minister Azam Nazeer Tarar.

#WATCH: Pakistan Finance Minister Muhammad Aurangzeb says it is vital to reform the prevailing pension system in Pakistan and proposes raising the retirement age to mitigate expenditure. https://t.co/c5sxX7xALn pic.twitter.com/47LWiVKMZ3

— Arab News Pakistan (@arabnewspk) May 7, 2024

The minister reported signs of economic stabilization, including foreign exchange reserves exceeding $9 billion, a stable currency, and a decrease in inflation from 38% to 17%.

He also detailed discussions with UK and European investors, upcoming IMF consultations, and plans to raise the tax-to-GDP ratio from 9% to 13-14% through increased tax rates. Additionally, he spoke about reducing deficits in state-owned enterprises by pursuing privatization.

Law Minister Azam Nazeer Tarar emphasized the link between political and economic stability, stating, “It is about now or never. Perform or perish.” He highlighted efforts to retain experienced employees to lessen the financial burden on pensions with new legislation and a committee led by Prime Minister Shehbaz Sharif.

Tarar added, “International institutions talking about Pakistan’s economy is a proof and certificate of positive economic indicators.”

Last month, Aurangzeb projected that forex reserves would reach between $9 billion and $10 billion by the end of June. He affirmed that the economy is progressing in the right direction, with the government dedicated to spurring economic growth and comprehensive social development.

The minister also pointed to proactive measures to attract foreign direct investment, mentioning recent interactions with various countries, including Saudi Arabia. He expressed optimism about significant future collaborations with Saudi Arabia.

TAGGED:FeaturedPak­istan
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Ellen DeGeneres and Portia de Rossi UK

Ellen DeGeneres Faces Lawsuit Over 2023 Car Accident in California

President Asif Ali Zardari in China’

Zardari’s China Visit Bolsters Pakistan’s Defense and Aviation Ties

Charlie Kirk After 2025 Shooting

Republicans Warn Against Disrespecting Charlie Kirk After Fatal Shooting

Post Archives

More Popular from Photonews

Joe Jonas Controversy
Entertainment

Joe Jonas Sparks Controversy with Pre-Show Video at a Concert

2 Min Read
Nepal Prime Minister Jhalanath Khanal
Top NewsWorld

Violent Protesters Burn Ex-Nepal PM’s Wife Alive in Unrest

3 Min Read
Hyundai’s Adrien Fourmaux at Rally Chile 2025
Sports

Hyundai’s Adrien Fourmaux Takes Slim Lead at Rally Chile 2025

2 Min Read
Pakistan

Imran Khan’s Legal Team Appeals to UN Over Alleged Torture in Detention

Former Pakistan Prime Minister Imran Khan's legal team filed an appeal with the UN Special Rapporteur…

September 14, 2025
Pakistan

Pakistan Supreme Court Acquits Accused in Two Major Cases

The Supreme Court of Pakistan, in two separate cases, acquitted the accused due to flawed investigations…

September 12, 2025
Entertainment

Taylor Swift Rumored for 2025 Super Bowl Halftime Show

Rumours are swirling that Taylor Swift might perform at the 2025 Super Bowl halftime show, set…

September 10, 2025
Punjab

Pakistan Army Chief Visits Flood-Hit Areas, Pushes for Better Relief Efforts

Chief of Army Staff Field Marshal Syed Asim Munir visited flood-hit areas in Kasur and Multan.…

September 13, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?