Islamabad: Prime Minister Syed Yusuf Raza Gilani presided over the meeting of the Federal Cabinet here today.
The Cabinet offered Fateha for the departed soul of Madr-e-Jamhuriat, Begum Nusrat Bhutto, the wife of the PPP Founder and the Former Prime Minister of Pakistan, Mr. Zulfiqar Ali Bhutto. The Cabinet condoled with the bereaved family and paid rich tributes for her outstanding contributions towards democracy in the country.
The Cabinet reviewed the implementation status of cabinet decisions pertaining to Commerce Division.
The cabinet considered and gave its confirmation of the decisions taken by the Economic Coordination Committee (ECC) of the Cabinet in its meeting held on 13th October 2011.
Secretary Establishment briefed the Cabinet on the status of implementation on Aghaz-e-Haqooq-e-Balochistan and the proposals approved by the Parliament on 25th November, 2009. The Cabinet expressed its satisfaction on the progress being made in this regard.
Secretary Finance presented a detailed presentation on Consumer Price Index in the country in order to oversee/discuss the trend of prices of essential commodities.
The Cabinet considered and accorded its approval to amendments in the Articles of agreement of the IMF. Board of Governors of IMF had approved certain amendments upon review of quotas and reform of Executive Board.
The reforms ensure proper presence of emerging economies both in term of quota representation and size of the Executive Board of IMF. State Bank of Pakistan in consultation with the Finance Davison had cast a positive vote for the amendment.
The Cabinet considered and accorded its approval to the Preferential Trade Agreement (PTA) between Pakistan and Indonesia. The agreement would ultimately create a Free Trade Area between the two countries. Under the PTA, Indonesia agreed to offer market access to Pakistan on about 220 tariff lines on preferential rate. The Indonesian offer list includes products of export interest to Pakistan.
The Cabinet considered and gave its approval for reduction in Pakistan’s Sensitive List under SAFTA, to 20% from 1169 to 936 tariff-line and hosting of sixth meeting of SAFTA Ministerial Council (SMC) and Seventh Meeting of SAFTA Committee of Expert (COE) at Islamabad in 2012.
The Cabinet approved the proposal of the Commerce Division for normalization of trade relations between Pakistan and India. The Secretary Commerce gave detailed presentation on the trade relations between India and Pakistan and its historical perspective.
The Cabinet considered and accorded its approval to signing of SAARC Agreement on Rapid Response to Natural Disasters. The draft agreement was expected to be signed during the 16th SAARC Summit at Thimphu in April 2010. The finalized version of the Agreement incorporates Pakistan’s amendments and suggestions.
The Cabinet considered and accorded its approval to the Draft Biological and Toxin Weapons Convention Implementation Bill. The Convention of the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on their Destruction (BTWC), was adopted in 1972. Pakistan is a signatory to the convention.
The Cabinet considered and gave its approval to start negotiations and sign Pak-Turkish Media Cooperation Agreement. Anadolu and Agency (AA) of Turkey and Associated Press of Pakistan (APP) have agreed to sign an agreement for long term cooperation and exchange of News.
This enhanced cooperation will not only provide access to Pakistani media-persons in the West Asian region but will also strengthen mutual understanding between the two brotherly countries.
The Cabinet considered and gave its approval for Pakistan’s Membership of the Forum of Federation. Forum of Federation is a non-governmental organization registered as a charitable organization under the laws of Canada.
The Cabinet considered and accorded its approval for Members Election Commission (Oath of office, term, salary, allowance, perks and privileges) bill, 2011. As no provision has been made in the Constitution or any law regarding oath of office, resignation, tenure of office, terms and conditions of the services of Members of Election Commission, Ministry of Law, Justice and Parliamentary Affairs has drafted a Bill in consultation with Election Commission of Pakistan.
The Cabinet considered and formed the Committee to look into the Constitution (twentieth amendment) Bill, 2011.
The Cabinet formed a committee comprising Finance Minister and Minister for Petroleum to look into the Addendum to Lease Contract Agreement for Extension in the Lease period of Saindak Copper Gold Project.
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