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Fifth Cabinet meeting commences with a nine point agenda

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September 13, 2018 (MLN): The fifth meeting of the Federal Cabinet has commenced where a nine points agenda is on the table, including the decision on whether gas prices are to be increased for consumers or not.

The decision on the matter of gas price hike was discussed in the meeting of the Economic Coordination Committee in which Finance minister Asad Umar had left it to the prime minister to decide on whether he would opt for a gas price increase up to 186 percent in line with Oil and Gas Regulatory Authority’s recommendations or not.

Prime Minister had before the meeting approved the hike in gas, but the government had decided to hold on that decision in light of objections raised from the Sindh government on the matter.

In addition, today’s federal cabinet meeting will be discussing on whether it should or shouldn’t ratify the decisions taken by the Economic Coordination Committee of the Cabinet in its meeting held on 10th September 2018 where the ECC had decided to allow import of 100,000 metric tonnes of fertilizer to meet the needs of farmers in the Rabi crop season.

Other crucial decisions taken during the meeting pertain to the withdrawal of subsidy being availed by the richest domestic consumers on the sale of gas by introducing a fourth tariff slab and withdrawing the subsidy being availed by the fertilizer manufacturers.

According to the Cabinet Division, the decision on the abolishment of the Capital Administration and Development Division is also on the tables for discussion during the day’s meeting.

Among other things, the Cabinet would discuss the appointment of the new Chairman of the Board of Investment, for which the former World Bank official Harron Sharif is the likely candidate.

Following up on the previous cabinet meeting’s decision to form an Asset Recovery Unit, the Cabinet is likely to formally approve the matter today in order to bring back the public money channeled abroad.

According to sources, the office of the Prime Minister has been working towards the accelerating the ratification of a bilateral treaty for the exchange of information with Switzerland and for that purpose will be sending a delegation to Switzerland. Officers from NAB, FIA, FBR, SBP and intelligence agencies are to be part of the Asset Recovery Unit.

The meeting would also bring up with the Interior Division of the government, the constitution of a task force to streamline the Regulatory regime at the Implementation level.

In addition, the Cabinet is expected to approve the transfer of health-related assets and setups from the Islamabad Capital Territory Administration to the Ministry of National Health Services, Regulations, and Coordination.

The government would also be discussing amendments to the Income Tax ordinance with the Revenue Division in pursuance of the Supreme Court’s decision on the matter.

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Posted on: 2018-09-13T14:21:00+05:00

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