ISLAMABAD: The federal cabinet on Friday approved the decision to increase the support price of cotton to Rs8,500 per maund (40kg).
The federal cabinet meeting chaired by Prime Minister Shehbaz Sharif was held at Prime Minister’s House in which the cabinet fixed the support price to make the crops profitable for cotton farmers.
The cabinet also gave ex-post facto approval to 15 bilateral and two multi-lateral MoUs of the Securities and Exchange Commission of Pakistan (SECP) with various countries and international organisations on the recommendation of the Ministry of Finance.
The federal cabinet approved the winding down of the SME Bank on the recommendation of the State Bank. The cabinet directed that during the winding down, the security of deposits of all bank customers should be ensured. In the first phase, payments of 5.557 billion rupees will be made to all bank customers.
Shehbaz Sharif stressed that the security of deposits of SME bank customers should be ensured.
PM Shehbaz accords in-principle approval to set price of cotton at Rs8500 per 40kg
The prime minister directed to give special consideration to the return of customer deposits during the winding down.
On the recommendation of the Ministry of Interior, the federal cabinet approved the formation of an inquiry committee under the Extradition Act, 1972, headed by the Additional Deputy Commissioner for the extradition of Muhammad Wasim Aslam son of Muhammad Aslam to Saudi Arabia.
The government of Pakistan has an agreement with the Saudi government regarding the extradition of criminals. Muhammad Wasim Aslam is wanted by the Saudi government in a murder case.
The federal cabinet approved the reconstitution of the Pakistan Sikh Gurdwara Parbandhag Committee (PSGPC) on the recommendation of the Ministry of Religious Affairs and Interfaith Harmony.
Representation of the Sikh community from all provinces has been ensured in the said 13-member committee. This committee will take care of the maintenance of Gurdwaras, service of Sikh pilgrims and other administrative matters for the next three years.
The federal cabinet also approved the decision taken by the Cabinet Committee on Legislative Cases on March 13, 2023, in which the Lawyers Protection Bill-2023 was approved. It has been prepared at the request of lawyers.
The cabinet has approved the Lawyers Protection Bill-2023 to be presented in Parliament for the protection of lawyers.
Prime Minister Shehbaz Sharif said that lawyers have a key role in Pakistan’s constitutional evolution.
The federal cabinet approved the decisions taken in the meetings of the Economic Coordination Committee on March 14, 2023, and March 15, 2023.
Copyright Business Recorder, 2023
Comments
Comments are closed.