AGL 37.89 Decreased By ▼ -0.26 (-0.68%)
AIRLINK 124.10 Increased By ▲ 2.59 (2.13%)
BOP 5.67 Decreased By ▼ -0.18 (-3.08%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DCL 8.55 Increased By ▲ 0.15 (1.79%)
DFML 40.48 Decreased By ▼ -0.41 (-1%)
DGKC 87.10 Increased By ▲ 2.50 (2.96%)
FCCL 33.98 Increased By ▲ 1.28 (3.91%)
FFBL 66.01 Increased By ▲ 0.51 (0.78%)
FFL 10.20 Increased By ▲ 0.15 (1.49%)
HUBC 104.45 Increased By ▲ 0.65 (0.63%)
HUMNL 13.45 Increased By ▲ 0.20 (1.51%)
KEL 4.78 Increased By ▲ 0.35 (7.9%)
KOSM 6.84 Decreased By ▼ -0.25 (-3.53%)
MLCF 38.84 Increased By ▲ 1.34 (3.57%)
NBP 60.35 Increased By ▲ 0.10 (0.17%)
OGDC 179.65 Increased By ▲ 7.40 (4.3%)
PAEL 24.97 Increased By ▲ 0.17 (0.69%)
PIBTL 5.71 Increased By ▲ 0.01 (0.18%)
PPL 153.00 Increased By ▲ 11.31 (7.98%)
PRL 22.79 Increased By ▲ 0.07 (0.31%)
PTC 14.91 Increased By ▲ 0.17 (1.15%)
SEARL 66.85 Increased By ▲ 2.29 (3.55%)
TELE 7.01 Decreased By ▼ -0.13 (-1.82%)
TOMCL 35.70 Increased By ▲ 0.20 (0.56%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.99 Decreased By ▼ -0.21 (-1.48%)
TRG 50.95 Decreased By ▼ -0.80 (-1.55%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.23 Increased By ▲ 0.01 (0.82%)
BR100 9,717 Increased By 233.5 (2.46%)
BR30 29,237 Increased By 866.2 (3.05%)
KSE100 90,860 Increased By 1893.1 (2.13%)
KSE30 28,458 Increased By 630.4 (2.27%)

ISLAMABAD: The federal cabinet, on Tuesday, took significant steps towards institutional reforms, focusing on enhancing government efficiency and modernising state institutions with the merger and dissolution of 82 state-owned enterprises (SOEs).

The meeting was chaired by Prime Minister Muhammad Shehbaz Sharif, in which, the cabinet endorsed the recommendations of the Rightsizing of the Federal Government Committee, led by the finance minister, which involves the consolidation of 82 government entities into 40 streamlined institutions.

The primary goals include digitisation, smart management, and transparent governance to ensure better service delivery to the public.

The reforms target six key ministries in the initial phase, where unnecessary delays in policy implementation and decision-making are being addressed.

The cabinet also approved measures to protect the interests of employees potentially affected by these changes, establishing a committee to oversee their welfare.

The cabinet session strongly condemned the recent terrorist attacks in Balochistan, where innocent civilians and security forces were targeted. Offering prayers for the martyrs, the cabinet expressed determination to identify and take swift action against the perpetrators.

Prime Minister Shehbaz Sharif underscored that national security remains the government’s top priority and directed relevant authorities to ensure that the attackers are swiftly brought to justice.

The cabinet also reviewed the ongoing efforts to ensure the uninterrupted supply of urea fertiliser for the upcoming Rabi season. The prime minister appreciated the coordinated decisions of the finance minister and other relevant officials, which have enabled a steady supply of domestic urea by securing uninterrupted gas for fertiliser plants. This approach saved $130 million that would have been spent on imports.

Prime Minister urged all ministries to take similar initiatives to save public funds and contribute to economic recovery. “In these challenging times, every penny saved is a step towards stabilising the economy,” he emphasised.

The cabinet approved the Ministry of Housing and Works’ recommendations to dissolve the Pakistan Public Works Department (Pak PWD) and transfer its ongoing projects and staff to other ministries and provincial governments. This decision ensures that development projects under the PSDP continue without disruption. The prime minister highlighted that improving governance and institutional efficiency remains a core focus of the government’s reform agenda.

Progress on the government’s austerity drive was also reviewed during the meeting. Cabinet members have voluntarily renounced their salaries, and strict restrictions have been imposed on the purchase of non-essential government vehicles, new machinery, and unnecessary foreign trips. These measures are part of the broader vision to reduce government expenses and redirect resources to critical areas.

Prime Minister Shehbaz reiterated that Pakistan cannot afford the luxury of extravagant spending by the elite while ordinary citizens face economic hardships. He vowed to safeguard the nation’s resources and urged ministers to enforce the austerity measures within their respective ministries.

The cabinet also ratified the decisions made by the Economic Coordination Committee (ECC) during its August 22, 2024 meeting. These decisions are expected to provide economic relief, support key sectors, and address fiscal challenges.

Copyright Business Recorder, 2024

Comments

Comments are closed.

KU Aug 28, 2024 10:10am
There are over 180 commercial n non-commercial SOEs to date, what about rest of these festering entities destroying economy? Besides, no one believes govt's austerity lies anymore, we are in default.
thumb_up Recommended (0)