Islamabad: Minister of State for Finance and Railways Bilal Azhar Kayani has announced the government’s commitment to ensuring fiscal sustainability and promoting economic progress through essential financial reforms.

According to Radio Pakistan, Bilal Azhar Kayani emphasized the introduction of pension reforms designed to bolster the country’s fiscal stability and improve retirement security for public servants. The new system will be applicable to employees inducted from July 1 of the previous year onward.

Bilal Kayani further explained that a Federal Government Pension Management Company will be established under the revised structure. Additionally, a Pension Reserve Fund will be created to ensure the transparent and well-governed investment of pension contributions.