Prime Minister Shehbaz Sharif has reaffirmed his administration’s dedication to tackling the problem of elevated electricity costs, asserting that Pakistan cannot advance without economical energy.
At a federal cabinet meeting on Tuesday, the premier declared intentions to have a comprehensive session this week to examine strategies for decreasing power expenses.
During a cabinet briefing, Prime Minister Sharif provided updates regarding his recent meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan.
The UAE leader has generously extended the repayment time for a $2 billion loan due in January, a significant gesture of assistance, according to the prime minister.
Latest on PM Shehbaz’s cabinet meeting about PTI
The Prime Minister acknowledged that the suggestion for the extension originated from Sheikh Mohammed bin Zayed Al Nahyan, for which he expressed his gratitude. The two leaders also deliberated on strategies to augment investment in Pakistan.
Reinstatement of SMEDA and economic advancement
During the meeting, PM Shehbaz criticized the Small and Medium Enterprise Development Authority (SMEDA) for its inadequate performance, deeming it a “burden on the economy.”
National Cabinet
He disclosed that his government had recently reconstituted the board of SMEDA and expressed hope for greater collaboration between federal and provincial governments to rejuvenate the institution. He stated, “SMEDA possesses the capacity to serve as the cornerstone of Pakistan’s economy.”
The premier also acknowledged the rise in textile exports, emphasizing its vital contribution to enhancing the nation’s foreign exchange reserves.
Enhancing commerce with Indonesia
Prime Minister Sharif notified the cabinet that Indonesian President Joko Widodo is set to visit Pakistan later this month. He underscored the significance of the visit for bilateral trade and pinpointed halal meat and rice as crucial export potential to be addressed during the discussions.
Denunciation of the assault in Lower Kurram
The Prime Minister denounced the recent assault on an official convoy in Lower Kurram as a “despicable act” aimed at destabilizing the peace accord in the area. He prayed for the prompt recovery of the deputy commissioner and those officers hurt in the assault.
Prime Minister Shehbaz commended the interior minister and his team for their endeavors in combating human trafficking, urging solidarity in eliminating the “atrocious trade.”
The cabinet was informed about the deployment of e-office systems throughout federal ministries. Officials reported that paper-based communication has been replaced by digital platforms in 21 ministries, marking a milestone in e-governance.
The cabinet approved multiple measures, including the signing of a memorandum of understanding with a Chinese firm for the creation of textile parks. Furthermore, the government exempted the acquisition of used Chromebooks for educational institutions from Public Procurement Regulatory Authority (PEPRA) regulations while requiring a third-party audit to guarantee transparency.