News
Thursday, October 07, 2010
Cabinet approves Afghan Transit Trade Agreement* Prime minister directs Federal Board of Revenue, Trade Ministry to work to curtail menace of smuggling
Staff Report
ISLAMABAD: The Cabinet on Wednesday approved the Afghan Transit Trade Agreement, besides reviewing the second phase of rehabilitation of flood affectees.
The Cabinet, which met with Prime Minister Yousaf Raza Gilani in the chair, also gave approval to various agreements including a loan assistance accord with South Korea under which the country will provide $180 million for the construction of infrastructure and development in healthcare, education and renewable energy projects in the country.
Briefing newsmen about the decisions of the cabinet, Information Minister Qamar Zaman Kaira said that 85 percent of the cabinet’s decisions had been implemented in the Narcotics Control Board, Board of Investment and in Commerce Division.
He said the Cabinet had approved the decisions of the Economic Coordination Committee (ECC) meeting and gave ex-facto approval for a programme being launched by a French development agency, the Asian Development Bank and the government of Pakistan.
Under this programme, work would be initiated to meet the energy crisis in the country with more efficiency, he said, adding that under the programme three sectors would be addressed, including manufacturing of thirty million energy saver bulbs at a cost of $65 million, the government generating electric machines rehabilitation and to replace the industries transformers and motors which are outdated. The Cabinet gave approval for an agreement with Egyptian experts for technical, scholarships and economic training to be exchanged between the two countries. The Cabinet gave approval that the Pakistan Housing Authority would now be an autonomous body and would work more efficiently with the private sector to accommodate government officials and other people on priority. The Cabinet also gave approval of the Pak-Afghan Transit Trade Agreement.
The PM directed FBR and the Trade Ministry to work to curtail the menace of smuggling. He directed that the tariff of those items that were being smuggled be curtailed with an aim that these would not remain viable for smuggling.
Courtesy www.dailytimes.com.pk