The Federal Cabinet, which is scheduled to meet on Wednesday (tomorrow) with Prime Minister Syed Yousuf Raza Gilani in the chair, will discuss a 17-point agenda including matters pertaining to floods and the response of international community to the devastating floods, Business Recorder learnt reliably.
Sources said that there was a feeling in government circles that the response of the donors was not as per the expectations of the government and there was a need to revisit the strategy in this regard. The Cabinet will be given a detailed briefing about the losses to the economy caused by the floods.
Sources said that the Cabinet would consider a summary submitted by the Ministry of Finance for approval of replacement of banknotes of Rs 5 denomination with Rs 5 coin, ex-post facto approval of Draft Securities Bill 2010, and demonetisations of Rs 500 old design of banknotes.
The Cabinet will also consider Board of Investment's (BoI) summary regarding approval to renegotiate the Pakistan-Egypt Agreement on Promotion and Protection of Investments and to renegotiate the Pakistan-Australia Agreement on Promotion and Protection of Investments.
The agenda items also included signing of Grant Agreement with Government of Japan for the project of "Extension of Water Supply System in Faisalabad" and approval, in principle, to start negotiations on MOU for grant of US $1.4 Million from Government of Brunei Darrussalam far Earthquake Affected Areas. The meeting will also consider a summary moved by Ministry of Agriculture for co-operation with Ministry of Agriculture, Government of Tajikistan in the field of Agriculture and a Memorandum of Understanding (MoU) with government of Tunisia on Agriculture Sector.
Ratification of Additional Protocol to the agreement concerning the Organisation of Pakistani Manpower Employment in the State of Qatar and ratification of MoU signed during the visit of Chinese Vice Premier Zhang Dejiang will also be placed before the Cabinet for approval.
Ratification of the Convention between government of Pakistan and the government of Serbia for the avoidance of double taxation with respect to taxes on income and a bill to provide for Establishment of Shifa Tameer-e-Millat University at Islamabad will also be taken up, besides summaries of Economic Affairs Division for approval for signing Agreement on Economic, Scientific and Technical Co-operation with Romania and approval for Ratification of SAARC Convention on Co-operation on Environment.
The Cabinet will also review the status of Implementation of its decisions pertaining to Sports, States & Frontier Regions and Water & Power Divisions and also the decisions taken by Economic Co-ordination Committee (ECC) of the Cabinet in its meetings held on July 20 and July 29, 2010.
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