Tag: federal cabinet

  • PPP did not join federal cabinet as government will not last long, says Imran Khan

    PPP did not join federal cabinet as government will not last long, says Imran Khan

    Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan has said that the Pakistan Peoples Party (PPP) did not join the federal government because it will not last long.

    The former prime minister spoke to journalists in Adiala jail on Wednesday, stating that the “establishment, caretaker government, and the Election Commission are all one, and everything is based on lies.”

    Terming Chief Election Commissioner (CEC) Sikander Sultan Raja a “liar,” Khan said the CEC is still occupying the office despite five reports issued by election watchdogs on election irregularities.

    The founder of PTI also claimed that the new government will not last more than five to six months. However, inflation will increase in the country after signing a new deal with the International Monetary Fund (IMF).

    Imran Khan, who is currently in Adiala jail, stated that he is mentally ready to stay incarcerated.

    Regarding strain ties with the establishment, he responded to a question, saying: “Attempts are under way to create differences between us and the army.”

  • Export of onions and bananas banned in first meeting of cabinet

    Export of onions and bananas banned in first meeting of cabinet

    The federal cabinet has approved a ban on the export of bananas and onion till April 15, 2024, a step taken to bring down rates during Ramzan, reporting Geo News.

    The first meeting of the newly elected federal cabinet was held under the chairmanship of Prime Minister Shehbaz Sharif in which the economic situation of the country was deliberated upon and important decisions were taken including the ban on exporting bananas and onions.
    The ban was imposed to ensure ample availability in the market.

    Prime Minister Shehbaz Sharif directed officials to immediately form a committee to control the prices of food items. The cabinet says that the committee will closely monitor the prices of food items in collaboration with the provincial governments.

    The Prime Minister also issued orders to take strict action against unnecessary increase in prices of essential commodities and illegal profiteering.
    Shahbaz Sharif said that no negligence will be tolerated in taking strict action against profiteering.

    With the beginning of Ramzan, onion prices have reached 300 rupees per kg, while the prices of other food items are also very high.

  • Pakistan gears up for crucial IMF talks on $3 billion SBA programme

    Pakistan gears up for crucial IMF talks on $3 billion SBA programme

    Pakistan is set to commence vital discussions with the International Monetary Fund (IMF) concerning the completion of the second review under the $3 billion Standby Arrangement (SBA) programme.

    The formal invitation to the Washington-based lender is expected to be dispatched shortly after the formation and oath-taking of the federal cabinet, with negotiations anticipated to commence in the coming week.

    Simultaneously, Pakistan plans to request a new deal under the 36-month Extended Fund Facility (EFF).

    Sources have indicated that the size of the upcoming EFF programme is yet to be finalized, but Islamabad aims to explore the inclusion of climate finance to potentially increase the programme’s magnitude from $6 billion to $8 billion.

    A significant challenge facing the incoming finance minister is the pursuit of the Federal Board of Revenue’s (FBR) tax collection target of Rs890 billion for March 2024. Failure to meet this quarterly (Jan-March) target with the IMF may prompt additional taxation measures for the remaining fiscal year.

    Prime Minister Shehbaz Sharif chaired a high-level meeting on Tuesday to receive a comprehensive briefing from the FBR team on the future strategy for revamping the taxation system.

    The FBR has, to date, collected Rs5.82 trillion in the first eight months of the current fiscal year, experiencing a shortfall of Rs33 billion in achieving the February 2024 monthly target.

    To meet the targeted Rs9.415 trillion by June 30, 2024, the FBR must collect Rs3.58 trillion in the remaining four months (March-June) period.

    March 2024 holds particular significance, with the monthly target of Rs890 billion crucial for fulfilling the agreed third-quarter (Jan-March) period with the IMF.

    PM Shehbaz emphasized the immediate commencement of automation and digitization of the FBR, personally committing to monitor the entire process.

    According to The News, he urged the adoption of international best practices to enhance transparency, increase tax collection, and eradicate tax evasion, corruption, and smuggling.

    Expressing dissatisfaction with the current progress, PM Shehbaz directed the FBR to start the automation and digitization process immediately, urging the acquisition of services from international firms. He stressed the appointment of officers based on merit in the Track and Trace system.

    During the meeting, FBR Chairman Malik Amjad Tiwana briefed the prime minister on measures taken towards automation, tax net expansion, refund payments to exporters, and anti-smuggling efforts.

    PM Shehbaz, however, insisted on immediate progress, highlighting the collaboration with the Ministry of Interior and the Pakistan Army to combat smuggling effectively.

    As the meeting concluded, PM Shehbaz praised the efforts of caretaker finance minister Dr. Shamshad Akhtar and her team, commending their adherence to the policies laid by the previous government to avert default.

    The prime minister expressed confidence in achieving progress and prosperity through diligent efforts and adherence to the right direction.

    The meeting, attended by key officials, emphasized the urgency of digitalized invoicing and the inclusion of 1.5 million more individuals into the tax net, underlining the government’s commitment to fostering economic stability and growth.

  • PIA set for transformation: Federal cabinet approves privatisation, restructuring

    PIA set for transformation: Federal cabinet approves privatisation, restructuring

    In a significant development, the caretaker federal cabinet has granted approval for the restructuring of Pakistan International Airlines (PIA) and the privatisation of First Women Bank Limited.

    This decision, based on recommendations put forth by the Privatisation Division, aims to address the financial challenges faced by PIA in recent years.

    The pivotal meeting of the federal cabinet, presided over by Caretaker Prime Minister Anwaar ul Haq Kakar, saw the submission of restructuring recommendations by the Privatisation Division.

    It was highlighted during the session that PIA has been grappling with financial losses over an extended period.

    Previous cabinet meetings had already endorsed the appointment of a financial advisor, whose role is integral to the financial and administrative restructuring of PIA.

    The cabinet was briefed on the progress, indicating that the financial advisor has devised a comprehensive financial restructuring plan aligned with international norms.

    Under this plan, PIA is set to undergo a division into two distinct entities: Top-Co and Hold-Co. The core operations of PIA, including engineering, ground handling, cargo, flight kitchen, and training, will be consolidated under Top-Co.

    On the other hand, entities such as Precision Engineering Complex, PIA Investment Limited, properties, and other subsidiaries will find their place within Hold-Co.

    This strategic restructuring aims not only to address the financial challenges faced by PIA but also to attract potential investors.

    The cabinet has been briefed on the measures undertaken to enhance the attractiveness of PIA for investment, laying the groundwork for a positive trajectory in the airline’s future.

  • Hajjis to get mobile sims and free internet

    Hajjis to get mobile sims and free internet

    Caretaker Minister for Religious Affairs and Inter-faith Harmony Aneeq Ahmed has said that the government will provide free-of-cost mobile SIMs with roaming internet packages for pilgrims, on Tuesday.

    He further stated that female abayas having a Pakistani flag on the backside and 13 Kg suitcases will also be provided to pilgrims performing hajj this year.

    The minister said that it was a historic step that the caretaker government has declared a significant reduction of one lac in government Hajj expenses, adding that a further Rs50,000 will also be reduced in the coming few days after which Hajjaj will get back their money in their accounts.

    He further revealed that a new mobile application has been designed to assist pilgrims, which will provide navigation support and enable constant communication between pilgrims and relevant officials.

    Initially available in English and Urdu, the application will later incorporate various regional languages, he said, adding that, the app will also provide digital training programs to every pilgrim.

    The minister also disclosed a project that the Ministry of Hajj in collaboration with the Ministry of Education has planned to convert city mosques into schools to enroll out-of-school children where the Imam of mosques will play a leading role.

    Minister said that mosques will play their role as community centers in every city area, adding that imams will resolve community issues as well after offering prayers.

    He said that the Ministry of Hajj is taking all four provinces on board and enhancing the connectivity of mosques.

    While describing another project, minister for religious affairs said that his ministry with the collaboration of health ministry has another project in which medical clinics will also be part of mosques.

    Lady health workers and other essential staff of doctors will also be provided in all masajid where they will facilitate to citizens visiting inside the masque of areas, he added.

  • Cabinet approves seven MoUs for $10 billion investment deal with Kuwait

    Cabinet approves seven MoUs for $10 billion investment deal with Kuwait

    On Friday, during a session of the caretaker federal cabinet, seven Memorandum of Understandings (MoUs) for investments between Pakistan and Kuwait were granted approval.

    These agreements are slated to be formally signed during the upcoming visit of the prime minister to the Gulf country, signifying a commitment to fostering economic cooperation and partnership between the two nations.

    The meeting was held under the chairmanship of Caretaker Prime Minister Anwaar ul Haq Kakar.

    As a result of dedicated initiatives by the Special Investment Facilitation Council (SIFC), both countries will sign MoUs encompassing a range of projects.

    These projects span various sectors, including the expansion of water reservoirs, development of mining facilities, conservation of mangrove forests in coastal areas, advancements in information technology, and initiatives to bolster food security.

    The prime minister, presiding over the session, directed the facilitation of collaboration with the provinces to ensure the prompt and equitable implementation of the projects.

    The caretaker federal cabinet also endorsed the resolutions and actions deliberated upon during the Cabinet Committee on Legislative Affairs (CCLC) meeting held on November 14, 2023.

    Additionally, it gave its approval to the determinations reached in the Economic Coordination Committee (ECC) meeting held on November 15, 2023, showcasing a comprehensive review and endorsement of key decisions across various governmental committees.

  • Bushra Bibi’s name might be added to no-fly list

    Bushra Bibi’s name might be added to no-fly list

    On Wednesday, the Federal Cabinet Sub-Committee on Exit Control List (ECL) proposed placing the names of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, his wife Bushra Bibi, former special assistant to Prime Minister Zulfi Bukhari, and former advisor to PM Shahzad Akbar on the no-fly list, Geo has reported.

    The recommendation was given during yesterday’s committee meeting, attended by caretaker Interior Minister Sarfaraz Bugti, Minister for Communications Shahid Ashraf Tarar, and various officials from the interior ministry and other departments.

    The sub-committee suggested 41 names to place on no-fly list and Imran Khan’s name to include in the ECL due to the £190 million UK settlement case.

    On the other hand, the sub-committee recommended removing 13 different types of cases from the ECL. On the instructions of the judiciary, the names of seven individuals have been removed from ECL.

    The caretaker federal government will have final right to approve the recommendations.

  • PM Kakar aims to make Hajj more affordable and comfortable for pilgrims

    PM Kakar aims to make Hajj more affordable and comfortable for pilgrims

    On Monday, Caretaker Prime Minister (PM) Anwaar-ul-Haq Kakar issued a directive emphasising the provision of high-quality and affordable facilities for pilgrims during the Hajj without compromising the overall arrangements.

    During a meeting focused on the Ministry of Religious Affairs, he stressed the importance of ensuring that all necessary measures are taken to facilitate pilgrims in performing this significant religious ritual, as reported by the state news agency.

    The Prime Minister was briefed on the ministry’s performance, the actions taken for Hajj, and the preparations for the Hajj policy in 2024, according to a press release from the PM Office Media Wing.

    According to ARY News, the meeting was attended by Caretaker Minister for Religious Affairs Aneeq Ahmed and other ministry officials.

    In his address to the participants, the Prime Minister emphasised the need for rigorous oversight of private Hajj companies to ensure that pilgrims using private schemes do not encounter any difficulties. 

    He also requested the submission of the Hajj policy for approval by the federal cabinet.

  • IMF approves relief plan for 4 million consumers with monthly power usage below 200 units

    IMF approves relief plan for 4 million consumers with monthly power usage below 200 units

    After extensive negotiations prompted by widespread protests against soaring electricity bills, the International Monetary Fund (IMF) has reportedly granted approval to a relief proposal targeting consumers with monthly electricity consumption of up to 200 units, allowing authorities to implement an installment-based billing system, according to sources cited by Geo News.

    Sources indicated that the final authorisation for implementing the installment billing system will require approval from the federal cabinet. 

    Approximately 4 million electricity consumers are expected to benefit temporarily from this initiative.

    Regrettably, the interim government’s proposal to extend relief to consumers using up to 400 units of electricity per month was rejected by the IMF. This decision means that approximately 32 million consumers would have benefited if the proposal had been accepted.

    Additionally, sources disclosed that the IMF stressed the importance of combating electricity and gas theft while also focusing on improving revenue collection.

    Furthermore, the sources revealed that the IMF had requested an increase of 45 to 50 per cent in gas tariffs, effective from July 1. However, the approval of this tariff hike remains contingent upon federal cabinet approval.

    In response to persistent protests by citizens and traders who have taken to the streets to denounce the steep increases in power bills and additional taxes, the caretaker government led by Prime Minister Anwaar ul Haq Kakar in Islamabad has been actively engaging with the IMF to secure immediate relief for electricity consumers in the economically challenged nation, where the populace is grappling with soaring inflation.

    It is crucial to note that Pakistan is currently operating under an IMF programme, making any relief or subsidy subject to IMF approval.

  • IMF demands detailed electricity bill relief plan from Pakistan amid nationwide unrest

    IMF demands detailed electricity bill relief plan from Pakistan amid nationwide unrest

    The International Monetary Fund (IMF) has asked Pakistan to provide a written plan for relief in electricity bills amidst ongoing nationwide protests. 

    The caretaker government’s decision to seek approval from the IMF before announcing any consumer relief led to a federal cabinet meeting on Tuesday, chaired by interim Prime Minister Anwaarul Haq Kakar. 

    Despite discussing options, the meeting concluded without unveiling any measures. The Power Division had shared proposals with authorities, but the strict conditions of the IMF loan necessitated involving the lender first. 

    Pakistan’s $3 billion loan agreement with the IMF in July involved adhering to stringent financial discipline. The current surge in electricity rates, approved by the previous government, is reflected in bills. 

    According to Geo, Finance Minister Shamshad Akhtar held a virtual meeting with IMF representative Esther Perez, discussing relief measures and the ongoing protests. While the Pakistani team submitted various relief proposals, the IMF officials requested a written plan, expected to be shared soon. 

    Additionally, the Federal Board of Revenue (FBR) engaged with the IMF on tax collection in July, with plans for further discussions in the coming days.