• Prime Minister briefs Cabinet on his ‘constructive’ meeting with Zayed Al Nahyan
• A “comprehensive” meeting on reducing energy prices will be held this week
• Halal meat and rice exports will be on the agenda during the Indonesian president’s visit to Islamabad
• Cabinet takes steps to safeguard FBR data, declares its infrastructure critical
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday revealed that the United Arab Emirates (UAE) has decided to refinance a $2 billion debt due this month, providing critical financial relief to Pakistan.
In his televised opening remarks at a federal cabinet meeting he chaired, the prime minister informed members of his “positive and constructive” meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan. They discussed ways to further strengthen bilateral ties and investment cooperation.
According to the Prime Minister, the UAE President emphasized on rapidly advancing investment projects and expressed his country’s commitment to enhancing its long-standing partnership with Pakistan. During his one-on-one meeting, the UAE president announced the refinancing of the debt.
Prime Minister Shehbaz emphasized the need for sustained efforts to stabilize the economy and rebuild the country’s global position. “Thanks to our collective efforts, the economy is stabilizing. We will continue to work hard with the same commitment and devotion. The time is not far when we will become a prosperous nation and regain our stature. But this requires a path of sacrifice, blood and sweat and nothing less than that,” he added.
The Prime Minister highlighted that the recently presented program on the local economy required measures to reduce the cost of electricity, which he described as inevitable to boost exports and trade.
He informed cabinet members that he had chaired a meeting last week to consider reducing energy prices in collaboration with provincial governments and that a “comprehensive” meeting on the issue would be held this week.
Regarding small and medium-sized enterprises (SMEs), the Prime Minister highlighted recent developments, including decisions taken during a meeting to reconstitute the SMEDA Board. Another meeting on the topic is scheduled for January 15.
He also noted an increase in textile exports, reiterating the government’s focus on export-led growth and diversification into non-traditional exports.
Strengthen ties with Indonesia
The prime minister informed the cabinet that Indonesian President Prabowo Subianto will visit Islamabad this month to discuss strengthening bilateral relations. Areas of interest will include cooperation on Halal meat and rice exports and edible oil imports.
Referring to a recent shooting in Lower Kurram in which the deputy commissioner and others were injured, Chief Minister Shehbaz condemned the attack and described it as an attempt to sabotage a peace agreement. He prayed for quick recovery of the injured who are being treated in Peshawar.
He said the government was working in unison to curb the menace of human trafficking, which has led to the deaths of hundreds of Pakistani citizens and damaged the country’s reputation.
Chief Minister Shehbaz said he held regular meetings on the issue with the Ministry of Home Affairs and relevant departments to address the issue.
Cabinet decisions
Subsequently, according to a press release issued by the Prime Minister’s Office, the federal cabinet, on the recommendation of the Revenue Division, approved declaring the infrastructure of the Federal Board of Revenue (FBR) as critical under the Prevention of Electronic Crimes Act (PECA) 2016. This step is aimed at safeguarding sensitive data from cyber attacks or any illegal intervention.
The federal cabinet, on the recommendation of the Aviation Division, approved the extension of Flydubai’s temporary operating permits for weekly flights between Lahore, Islamabad and Dubai from January 4 to February 3.
The Ministry of Maritime Affairs briefed the cabinet on public sector imports and exports through Gwadar port by 11 federal ministries or divisions from March 2024 onwards.
The prime minister ordered that all reports from relevant ministries be included in the briefing and a full report be submitted. He ordered that 60 percent of all public sector trade be conducted through the port.
The IT Ministry also updated the cabinet on the implementation of e-office system in all federal ministries, making government communications
paperless from January 1, 2025. The system has already been implemented in 21 ministries and is expected to save time and reduce expenses. The processing time for abstracts at the Prime Minister’s Office has been reduced to a maximum of three days.
Cabinet, on the recommendation of the Cabinet Division, approved the purchase of refurbished Chromebooks for schools and universities, with a third-party audit to ensure transparency.
The cabinet also approved the signing of a memorandum of understanding (MoU) between the Board of Investment and China’s Shandong Ruyi Group to establish textile parks.
The federal Cabinet, on the recommendation of the Ministry of Foreign Affairs, approved the signing of an MoU between the Foreign Service Academy of the Ministry and the Diplomatic Academy of Serbia.
The cabinet also ratified the decisions taken during the recent meetings of the Cabinet Committee on Legislative Cases on December 31 and January 1 and ordered that all pending court cases related to private Hajj operators be resolved quickly.
Published in Amanecer, January 8, 2025.
