All economic indicators moving towards betterment: Aurangzeb

ISLAMABAD: All economic indicators of the country moving towards betterment and showing stability in the economy, Finance Minister Muhammad Aurangzeb told a news conference on Tuesday.

Pakistan is considering raising its retirement age from 60 to 65 years to reduce burgeoning pension payments, the country’s finance minister said on Tuesday.

Muhammad Aurangzeb said that pension payments were a “big liability”.

An IMF mission is likely to visit Pakistan within this month. All negotiations with the International Monetary Fund (IMF) being held with consultations.

Pakistan will discuss a new bailout programme with the IMF, finance minister said.

Pakistan last month completed a short-term $3 billion programme, which helped stave off sovereign default, but the government of Prime Minister Shehbaz Sharif has stressed the need for a new longer-term IMF programme.

“A mission is expected to visit Pakistan in May to discuss the Fiscal Year 2024-25 budget, policies, and reforms under a potential new programme for the welfare of all Pakistanis,” the IMF stated last Sunday.

The finance minister added that Islamabad will also hold talks with the IMF over climate finance.