Says IMF, ADB acknowledged economic development of Pakistan
ISLAMABAD (Sarzameen News) – The Federal Cabinet met here Wednesday under the chairmanship of the Prime Minister Muhammad Nawaz Sharif.
While addressing the Cabinet the Prime Minister thanked the nation for rejecting the un-parliamentary forces. He said that Managing Director IMF and the President Asian Development Bank who visited Pakistan few days ago appreciated economic development of the country.
He further said that for the first time in the history of Pakistan we have successfully completed a macro economic reforms programme with IMF and now IMF Programmes in Pakistan have come to an end. He expressed his satisfaction that the issue of Panama Papers will be resolved by the Supreme Court, adding that he himself had approached the Supreme Court to constitute a commission to adjudicate on the issue.
He said that the government’s earlier sincere efforts to legally resolve the issue were frustrated by the opposition by politicizing the matter. He said that the matter now is in the Supreme Court where it will be decided in accordance with the law of the land. The Prime Minister told that he had disallowed his legal team to discuss the maintainability of the petition so that it could be admitted un-hindered.
The Prime Minister mentioned continuous successes of PML-N in the elections of Cantonment Board, Local Bodies, GB and AJK as testimony of peoples’ trust in the elected government. He called upon the Nation to support elected government’s hard work for the economic uplift and welfare of the country.
The Prime Minister asked Mr. Ishaq Dar, Chairman Electoral Reforms Committee to prepare and give a briefing on Electoral Reforms during the next Cabinet Meeting. He also instructed him to prepare comprehensive recommendations on Electoral Reforms in consultation with all parliamentary parties in order to take necessary constitutional steps to improve upon the electoral system in the country.
He said that next elections should be transparent and free of controversies so that the political parties could participate in electoral process with full satisfaction and confidence. The Prime Minister paid tributes to the political maturity of Nation which has rejected un-democratic politics.
The Cabinet announced a relief package for those who lost their loved ones and/or suffered financial losses as result of un-provoked Indian firing across LOC. The cabinet offered Fateha for the Shuhada of Police Training College Quetta and the victims of Gaddani Ship Fire incident.
The Prime Minister ordered an immediate inquiry to ascertain the reasons of the tragedy. A committee was formed under the chairmanship of Minister for Defense Production, with Cabinet Secretary, Additional Secretary M/O Defense and Secretary Ports and Shipping as members.
The Cabinet lauded the efforts of economic team of the Government led by Finance Minister resulting in improvement by SNP in Sovereign Credit Rating of Pakistan from -B to B. The Prime Minister and the Cabinet lauded the efforts of Interior Minister for handling the onslaught and bid to lock down Islamabad.
While appreciating the Interior Minister and his team, the Prime Minister said that they excellently have handled a difficult assignment in order to maintain peace and protect the lives and property of the citizens, by establishing the rule of law and enforcing the writ of the State and its institutions. During the meeting, the Interior Minister complimented the Police and Frontier Constabulary for their commendable performance. He also thanked the Prime Minister for providing excellent leadership and guidance and for reposing confidence and extending unqualified support to him.
A report on Intended National Determined Contributions by Pakistan to the United Nations Framework Convention on Climate Change was submitted to the Cabinet for its consideration. The report consists of role of Pakistan in the UN Framework Convention on the subject.
The National Policy on repatriation and management of Afghan Refugees was also discussed in detail. It was decided to seek further input from all stake holders in order to reach a broad based consensus to take an informed decision. Report on National Maritime Policy (NMP) was deferred in order to take more input from relevant quarters to reach an appropriate decision. The Cabinet deferred its decision on Accession to the Convention (25th October, 1980) on Civil Aspects of International Child Abduction.
The Cabinet confirmed the earlier approvals of the Cabinet Committee on Disposal of Legislative Cases (CCLC) on Right of Access to Information Bill – 2016, Teaching of the Holy Quran in private and public schools Bill – 2016, Alternate Dispute Resolution Bill – 2016, Pakistan Climate Change Act – 2016, The Corporate Rehabilitation Bill – 2016, Draft Companies Bill – 2016 and Cost of Litigation Bill – 2016. The Cabinet approved the decisions taken by the Economic Coordination Committee (ECC) in its meeting held on 31st October, 2016.
The Cabinet ratified Paris Agreement on Climate Change. The Prime Minister himself attended the Climate Change Summit held in Paris in December last year. The Cabinet also approved signing of regulations framed under Memorandum of Understanding on military cooperation between Pakistan and Czech Republic.
The Cabinet also approved the signing of agreement on technical cooperation between Pakistan and Brazil. The Cabinet gave ex-post facto approval for signing of Inter-governmental Framework Agreement for Peshawar-Karachi Motorway and Karakorum Highway Phase-II (Havelian-Thakot) Project.
The Cabinet also took up the articles of agreement of the Asian Infrastructure Investment Bank. The cabinet gave its formal approval for initiation of negotiations between State Bank of Pakistan and National Bank of Belgium on signing of memorandum of understanding on mutual cooperation for the Banks’ operations in both countries.
The signing of this memorandum will facilitate investors and businessmen of both the countries as well as Pakistanis living and working in Belgium and elsewhere in European Union. The Cabinet also gave approval for signing of memorandum of understanding between the State Bank of Pakistan and Central Bank of Philippines on cooperation in the field of Banking Supervision and exchange of information.
The Cabinet gave approval in principle to initiate negotiations for agreement in the field of Youth Development between Pakistan and the Republic of Korea. It also gave ex-post facto approval to initiate negotiations for signing of memorandum of understanding in the field of Youth Development between Pakistan and Sri Lanka.
The Cabinet gave ex-post facto approval of the memorandum of understanding for cooperation in Research on Food Security, the Veterinary Sanitary Field, Plant Quarantine and application of Phytosanitary measures between Pakistan and Belarus.
The cabinet approved the signing of negotiated Memorandum of Understanding for cooperation in the field of Labour and Manpower training between Pakistan and Oman. It also approved in principle starting of negotiations for signing of agreement for cooperation in the fields of Labour Employment and Social Protection between Pakistan and Azerbaijan.
The Cabinet gave approval in principle to start negotiations on draft Memorandum of Understanding between Pakistan and Kuwait for recruitment of Pakistani Professionals in Kuwait through public sector.
The establishment of electronic data exchange between custom administrations of China and Pakistan under Pak-China Free Trade Agreement also came under discussion. The cabinet ratified Multilateral Convention on Mutual Administrative Assistance in Tax Matters.