Gwadar Port to handle 60% public sector trade

Shehbaz says efforts afoot to reduce electricity tariff

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ISLAMABAD:

Prime Minister Shehbaz Sharif instructed the ministries on Tuesday to shift 60% of the public sector imports and exports to the Gwadar port, and revealed that a "comprehensive meeting" would be held this week to discuss the possibility of reducing the electricity tariff.

In his opening remarks, while chairing a federal cabinet meeting, Shehbaz told the ministers that the UAE had rolled over the $2 billion debt for which he was thankful to President Sheikh Mohamed bin Zayed Al Nahyan.

The prime minister apprised the cabinet of his "positive and constructive" meeting with President Al Nahyan in Rahim Yar Khan in which they discussed ways to further strengthen bilateral relations and investment cooperation.

Shehbaz stated that the national economy had been put on a path to stability and it now required utmost efforts to "make Pakistan a prosperous nation and regain its lost grandeur". He mentioned the 'Uraan Pakistan' programme, which aimed at reducing cost of electricity to boost exports and commerce.

The prime minister informed the cabinet that he had chaired a meeting last week to mull over measures to reduce power rates with the collaboration of provincial governments, adding that a "comprehensive meeting" would be held this week on the subject.

The prime minister announced that Indonesian President Prabowo Subianto would visit Islamabad later this month. He said the government was formulating an agenda for cooperation in Halal meat and rice exports and the import of edible oil.

Meanwhile, according to a statement issued by the Prime Minister's Office, the cabinet received a briefing from the maritime affairs ministry regarding public sector imports and exports through the Gwadar Port by 11 federal ministries and divisions from March 2024 onward.

The PM directed that all the relevant ministries' reports be included in the briefing, and a comprehensive report should be submitted. He instructed that 60% of all public sector imports and exports should be conducted through the Gwadar Port.

The federal cabinet, on the recommendation of the Revenue Division, placed the FBR infrastructure under the Prevention of Electronic Crimes Act (Peca) 2016 to protect its highly sensitive data from cyberattacks such as hacking and any unlawful intervention.

The cabinet approved the signing of a Memorandum of Understanding (MoU) between the Investment Board and Shandong Ruyi Group of China regarding the establishment of textile parks. It also approved the signing of another MoU between the Diplomatic Academy of the foreign ministry of Serbia and the Foreign Service Academy of Pakistan. (WITH INPUT FROM APP)