Finance Minister Muhammad Aurangzeb has said that Pakistan and the United States are stepping ahead to strengthen their strategic partnership.
Speaking at an event in Islamabad on Tuesday, the finance minister said he had a constructive and positive conversation with the US Commerce Secretary last night. He said that both countries are moving in the right direction.
The finance minister said the government will stay the course of reforms in taxation, energy and other sectors. He said we have also carried out tariff reforms to move towards competitive economy.
As regards pension reforms, the Finance Minister said the Defined Contribution Pension Scheme is a win win for both the government and the employees. He said the government has increased the pension of retired employees by seven percent in line with inflationary trends. He said we have also proposed a five percent tax on pensions exceeding ten million rupees, while protecting low- and middle-income pensioners.
Earlier, in a virtual meeting between Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, both sides agreed to advance negotiations on reciprocal tariffs through constructive engagement, aiming to finalize the trade deal as soon as possible.
The discussions focused on meaningful engagement in trade, investment, and strengthening mutually beneficial economic ties.
Both sides also agreed that further technical-level discussions would take place in the coming days, following a mutually agreed-upon roadmap.
