ISLAMABAD: Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar Tuesday underlined the importance of introducing rationalized pay and pension system to remove anomalies and ensure equity.
The minister was talking to the Chairperson Pay and Pension Commission, Ms Nargis Sethi, who called on him here while Finance Secretary also participated in the meeting, according to press statement issued by the Finance Ministry.
The minister said that the current model for disbursements of Pay and Pensions was not sustainable and there was a need to rationalize salaries, pensions, allowances, perks etc by removing anomalies to ensure equity.
He stressed for finding a way forward which is transparent, feasible and sustainable in the long run. He extended full support and facilitation to the commission on the occasion.
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.
Earlier, the Ms. Nargis Sethi briefed the Finance Minister about the working of the commission to streamline the existing pay and pension structure as per mandate of the commission.
She updated the finance minister about the consultative process being followed to ensure all stakeholders were onboard in working out a financially viable solution to disbursement of pay and pensions.
The current pension payment system is a massive burden on our economy, she added.
The chairperson also apprised the Finance Minister about working of sub-committees, which were assigned terms of reference to deliberate and present firmed-up proposals for harmonisation of pay and pension system across the country.