Finance minister calls for restructuring pay, pension system

LAHORE: Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar, while terming the current model for disbursements of pay and pensions unsustainable, underlined the importance of introducing a rationalised system to remove anomalies and ensure equity.

The minister was talking to the Pay and Pension Commission Chairperson, Nargis Sethi, who called on him in the federal capital on Tuesday while the finance secretary also participated in the meeting.

He stressed finding a way forward which is transparent, feasible and sustainable in the long run and assured of full support and facilitation to the commission in this regard.

He said that the Pay and Pension Commission had a very challenging task ahead as the federal and provincial governments’ employees were looking forward with great hope towards the recommendations of the commission.

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Earlier, Nargis Sethi briefed the meeting about the working of the commission to streamline the existing pay and pension structure as per the mandate of the commission.

She updated the finance minister about the consultative process being followed to ensure all stakeholders were on board in working out a financially viable solution for the disbursement of pay and pensions.

The chairperson also apprised the finance minister about the working of sub-committees, which were assigned terms of reference to deliberate and present proposals for a harmonised salary and pension payment system across the country.

“The current pension payment system is a massive burden on our economy,” she added.

 

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