Rs11bn bail-out package to bring Railways back on track: Cabinet told

ISLAMABAD : The Federal Cabinet was informed on Wednesday that Rs11 billion bail-out package was being released to the P

Published August 10, 2011 Updated August 10, 2011 03:26pm

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By Imad Uddin

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Addressing a post-Cabinet meeting press conference here, Minister for Information and Broadcasting Firdous Ashiq Awan said that the prime minister hoped that after the bail-out package the Pakistan Railways would come on track soon.

The information minister said that the prime minister directed the Ministry of Railways that special trains would continue to operate on the occasion of Eid-ul-Fitr. The Federal Cabinet met held under the chairmanship of Prime Minister Syed Yusuf Raza Gilani here.

She said that the Finance Secretary briefed the Cabinet on consumer price index and the trends of prices of essential commodities in the country and also gave a comparison of their prices with those in other countries of the region.

The prime minister emphasized that the provincial governments should gear up their enforcement mechanism to control prices of essential commodities and the Federal Government would extend every possible help in this regard, she said.

The Information Minister also said that the Prime Minister directed the Cabinet members to ensure availability of good quality essential food items at reasonable rates to the people during the holy Month of Ramadan. He expressed his satisfaction over the stability of prices of the essential commodities during Ramadan, she said.

The prime minister further directed the Minister for Industries to ensure adequate supply of essential food items to be distributed across the country through the Utility Stores Corporation, Dr Firdous said.

Minister for Information said that Minister for Industries informed the Cabinet about the measures taken by Utility Stores Corporation on provision of essential items to the people at cheaper rates. The Prime Minister, she added, also directed that Utility Stores network be expanded throughout Balochistan and Federally Administered Tribal Areas (FATA).

The Prime Minister said that steps should be taken to stop smuggling of livestock and meat to other countries so that it should be made available to the common man at affordable prices.

The Information Minister said that the Cabinet approved proposed amendments in the Airport Security Force Act 1975 regarding re-designation of its present rank and structure on the lines followed by other Civil Armed Forces, Law Enforcement Agencies etc.

She said that as Defence Minister Ahmed Mukhtar could not attend the Cabinet meeting, the Prime Minister formed a Committee of the Cabinet comprising Minister of Defence and Minister of Railways to decide the matter of renaming of Peshawar International Airport.

The Cabinet discussed and approved the proposed Agreement on Economic and Technical Cooperation between Pakistan and China. China had indicated to provide to Pakistan a grant of RMB 70 million for the projects to be agreed by the both sides.

The Minister said that the Cabinet also granted approval for the signing of Agreement on the Usage and Replacement of Driving Licences between Pakistan and Tunisia. The agreement will allow citizens of both the countries to use their international driving licences while visiting that country.

The Federal Cabinet accorded approval for Tax Exemptions for Oil and Gas Development Company Limited (OGDCL) Exchange Bond (EB). As per precedent, international investors of GoP (Government of Pakistan) sovereign bonds are exempted from taxation on interest derived from such bonds and are also exempted from any tax emerging from capital gains on the trading of the bonds.

Firdous said that the Cabinet accorded its approval to the Ministry of Information and Broadcasting to sign a memorandum of understanding (MoU) on Pak-UK cooperation for counter-terrorism outreach and communication.

The Cabinet also reviewed implementation status of its decisions pertaining to the Ministry of Information and Broadcasting, Law Justice and Parliamentary Affairs, Ports and Shipping and Privatization Division.

The Cabinet also confirmed the decisions taken by the Cabinet Committee on Privatization in its meeting of Aug 5, she said.

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