ISLAMABAD: Prime Minister Shehbaz Sharif Tuesday said the second tranche of about $1 billion from the International Monetary Fund (IMF) is critical, asserting that the government’s hard work and support of the global lender helped Pakistan achieve macroeconomic stability.
The prime minister while chairing a meeting of the federal cabinet declared that terrorism has resurfaced in some parts of Khyber Pakhtunkhwa and Balochistan and the government would not rest until the menace is wiped out.
He maintained that the country’s future lies in its economic growth, which can be materialised by enhancing productivity in key areas such as agriculture, commerce, trade, finance, information technology, mining, and maritime industries.
IMF holds talks on agricultural income tax
He stressed the urgent need to accelerate the pace of development and urged the recently appointed cabinet ministers to actively participate in the country’s development.
“The induction of new members to the cabinet will improve our performance even more. Every member must play his due role in promoting the country’s development and prosperity,” he added.
He emphasised the urgent need for a total revival of the Railways, while highlighting the vast potential of the Maritime Affairs Ministry to drive economic growth.
He declared that he would conduct a performance review of all ministries every three months, instructing federal ministers and secretaries to come fully prepared and ready to present their updates at the forthcoming review meetings. He said that foreign remittances have skyrocketed to over $3.1 billion, emphasising the urgent need for boosting the country’s exports in tandem with this growth.
He also announced his plan to establish a Danish University, using the £190 million received from the UK’s National Crime Agency (NCA).
The Minister for Planning, Ahsan Iqbal, briefed the cabinet regarding the monitoring of essential items’ prices during Ramazan.
Sharif observed that the performance of the price control committee for the federal capital had been very effective and efficient.
On the recommendation of the Ministry of Federal Education and Professional Training, the cabinet approved the directorate of religious education as an affiliated department under the Ministry of Federal Education. On the recommendation of the Ministry of Information Technology and Telecommunication, it also approved the signing of a memorandum of understanding (MoU) between Pakistan’s National Cyber Emergency Response Team and the National Computer Emergency Response Technical Team/Coordination Center of China to strengthen cooperation in the field of cybersecurity.
The objective of the MoU is to promote collaboration in research, consultation, and training related to cybersecurity.
Furthermore, under the MoU, coordination on preventing cyber-attacks, policy development, cybersecurity drills, exchange of cybersecurity intelligence, capacity building, and awareness promotion in the field of cybersecurity would be ensured.
The cabinet, on the recommendation of the Ministry of Information Technology and Telecommunication, approved an agreement between the United Nations’ International Telecom Union (ITU) and the Ministry of IT and Telecom, Government of Pakistan, for the establishment of an ITU accelerator centre.
Under the agreement, Pakistan’s National Incubation Center in Islamabad would function as an IT accelerator centre, by enhancing its capacity.
The cabinet, on the recommendation of the Ministry of Maritime Affairs, approved the appointment of Syed Jarrar Haider Kazmi as the chief executive officer (CEO) of Pakistan National Shipping Corporation. It also approved a one-year extension in the “secondment” period of Commodore (OPS) Rizwan Ali Munawwar as Commandant of the Pakistan Marine Academy, Karachi.
The cabinet, on the recommendation of the Ministry of Human Resource Development and Overseas Pakistanis, approved the appointment of Engineer Syed Mussarat Hussain as CEO of Pakistan Real Estate Investment & Management Company (Pvt) Ltd.
The meeting endorsed the decisions made during the Economic Coordination Committee meeting held on February 20, and the decisions taken in the Cabinet Committee on Legislative Cases meeting held on March 4.
Copyright Business Recorder, 2025
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