Islamabad: Finance Minister Muhammad Aurangzeb has announced that Pakistan and the United States are advancing plans to enhance their strategic partnership. Speaking at an event in Islamabad, the Finance Minister highlighted a recent constructive discussion with the US Commerce Secretary, emphasizing that both nations are progressing in the right direction.

According to Radio Pakistan, Aurangzeb detailed the government’s commitment to maintaining reforms in areas such as taxation and energy. The Finance Minister discussed the implementation of tariff reforms aimed at fostering a competitive economy. He highlighted the introduction of the Defined Contribution Pension Scheme, describing it as beneficial for both the government and employees. Additionally, the government has increased pensions for retired employees by seven percent to align with inflation trends and introduced a five percent tax on pensions exceeding ten million rupees, ensuring protection for low and middle-income pensioners.

In a recent virtual meeting between Finance Minister Aurangzeb and US Commerce Secretary Howard Lutnick, both parties agreed to expedite negotiations on reciprocal tariffs through constructive dialogue, with the goal of finalizing a trade deal promptly. Discussions centered on engaging in meaningful trade, investment, and reinforcing mutually advantageous economic relations. Both sides concurred on the necessity of further technical discussions, which are to proceed following a mutually agreed upon roadmap.