The Cabinet, which met here on Wednesday with Prime Minister Syed Yusuf Raza Gilani in the chair, approved amendments to Anti-money Laundering Ordinance 2007 to check terror funding, expansion in the list of predicate offences and definition of money laundering in accordance with the best international practices.
Sources told Business Recorder that the amendments were suggested by the chief of the US Treasury who visited Pakistan in August to recommend the government of Pakistan to put in place a new mechanism to check money transactions, going out or coming into Pakistan. The Chief of US Treasury had held series of meetings during his stay in Islamabad with the government economic team and SBP Governor Dr Shamshad Akhtar. The US wanted amendments to Anti-money Laundering Ordinance to check terrorists financing network.
The Cabinet also approved in principle a Finance Division proposal for introduction of consolidated supervision of financial sector and functioning of the banking sector subsidiaries under SBP.
The Prime Minister expressed dissatisfaction over the law and order situation in the country and reaffirmed the government commitment to fight terrorism out with full force. He directed the concerned government departments to workout effective strategy to deal with the menace of terrorism. The Prime Minister wanted more co-ordinated efforts and stringent measures to tackle terrorism to provide an environment of peace and security to people.
He said criminals do not have any ground to stand on, therefore, they must be pursued in the hottest way. He said that the law of the jungle cannot be allowed to persist as we are deeply concerned about the life and property of the people of Pakistan.
Wednesday's Cabinet meeting was haunted by Marriott Hotel blast. The Cabinet vowed that stern action by law enforcement agencies must be taken as their intelligence agencies are failing miserably to lay hand on the perpetrators. The Prime Minister directed the concerned authorities to arrange in camera briefing for the Cabinet on the latest law and order situation.
Advisor on Interior, Rehman Malik briefed the members about the actions taken by the government to combat terrorism. He said the Ministry of Interior is in close co-ordination with the provincial governments to ensure peace in Fata. He said concerted efforts are under way with the assistance of Pakistan Army and other law enforcement agencies to bring the law and order situation under control. The meeting offered Fateha for the deceased and observed a one-minute silence for the foreigners who lost their lives in the tragic incident.
The Prime Minister also condemned the abduction of Afghan ambassador-designate to Pakistan by some miscreants. He said a search operation has already been launched to recover the missing envoy and the scope of search would be widened, if required.
Regarding presidential election, the Prime Minister noted that with Asif Ali Zardari's election the process of parliamentary elections has completed. He mentioned President Zardari's address to the joint session of the parliament as an important step towards strengthening the democratic process in Pakistan. He said the President of Pakistan in his address deliberated upon significant national issues such as security, renaming of NWFP, provincial autonomy, reforming the tribal areas, reforms in FCR laws and all issues of national importance and balance of powers between the President, parliament and executive.
The Cabinet approved the summary of the Ministry of Interior regarding signing of MoU between Pakistan and the International Committee of the Red Cross (ICRC) for facilitating government of Pakistan to review the training curricula in order to enhance the professionalism of Pakistan police force.
The Cabinet also granted approval to the Ministry of Interior proposal pertaining to signing visa abolition agreement between Pakistan, France and Guyana for holders of diplomatic and official passports. The Cabinet approved ratification of agreement between the governments of Tajikistan on co-operation in combating illicit trafficking of narcotics, psychotropic substances and precursor chemicals.
The Cabinet also approved the Federal Board of Revenue proposal for initiation of negotiations of agreement between Pakistan and Venezuela for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
The Cabinet approved issuance of long distance international (LDI) license to China Mobile Pakistan (CM Pak) which is the largest mobile operator world over. The company has acquired 100 percent Paktel shares in Pakistan.