Federal Minister for Finance Revenue Senator Muhammad Aurangzeb addressing a press conference in Islamabad on May 7, 2024. PHOTO: PIDFinance Minister Muhammad Aurangzeb proposed on Tuesday raising the retirement age and restructuring pension payments to alleviate the financial strain on the economy. Addressing a press conference in Islamabad alongside Information Minister Attaullah Tarar and Law Minister Azam Nazeer Tarar following a cabinet meeting, the minister stated that the country's economy was gradually stabilizing. Among the positive economic indicators outlined by the finance minister were foreign exchange reserves surpassing $9 billion, currency stabilizing, and inflation decreasing to 17% from 38%. Law minister Azam Nazeer Tarar also underscored the importance of economic stability for the country to progress and emphasized the correlation between political and economic stability.

Source: The Express Tribune May 07, 2024 18:57 UTC