Recently, the federal government announced an increase in the retirement age for government employees from 60 to 65 years.
The announcement was made during a joint press conference held by the Finance Minister, the Law Minister, and the Information Minister. The Finance Minister, Muhammad Aurangzeb, stated that the tax net needs to be expanded, energy reforms are underway, and the privatization of state-bound enterprises will begin.
He further added that pension is a burden on the government and reducing it is necessary. The Law Minister revealed that the Prime Minister’s directive is to share the government’s work with the public. Structural reforms are crucial for the country’s economic stability. He mentioned that the Parliament has already passed the first legislation on tax laws.
The Law Minister further added that pension reforms are being discussed, but no decision has been made yet on increasing the age limit. A committee headed by the Finance Minister has been established to resolve this issue. Attatar, while speaking, emphasized that the country is moving towards change and implementing various reforms. The world media is praising the economic reforms in Pakistan.
The focus is to reduce the burden of pensions, and if there are economic reforms, there will be no need for another IMF program. Attatar added that all decisions are made in consultation with relevant stakeholders. In conclusion, the government has taken an in-principle decision to increase the retirement age of government employees. The final proposals to reduce the pension burden and increase the length of service will be communicated after detailed discussions. The government is committed to bringing structural reforms and ensuring economic stability.
