Finance Minister Muhammad Aurangzeb has described the current pension system as a bomb that must be defused immediately.
Speaking during a Senate session, Aurangzeb stressed the need for pension reforms and announced plans to introduce new legislation for overhauling the existing system.
On another query, the Finance Minister briefly discussed the importance of the agriculture sector to the economy. He said increased financial support for agriculture, livestock and dairy industries is essential for sustained economic growth.
In addition to his focus on agriculture, the finance minister emphasized the need to enhance export performance across various sectors, and beyond textiles. He reassured that a new policy is in place to boost exports and that efforts are underway to achieve this goal.
Without going into more details on the matter, Aurangzeb further noted the potential for significant cost savings by addressing inefficiencies in institutions that are currently operating at a loss.