Special Assistant to Prime Minister (SAPM) on Health Dr Zafar Mirza briefed the federal cabinet about the latest situation of the Covid-19 in the country.
The federal cabinet also approved Inquiry Commission's request, probing into increase in sugar prices, for extension of three weeks for submission of their report.
The federal cabinet has also decided to impose ban on export of edible commodities for two weeks as the prime minister wanted that in the wake of current situation, export of all edible items, which are consumed by the common man, should be banned. The decision would be reviewed after two weeks, the meeting decided.
The federal cabinet also approved Rs75 billion relief package, in the first phase for labour, and the prime minister directed Special Assistant to Prime Minister for Social Welfare and Minister for Industries to devise a comprehensive mechanism for providing relief to the labour.
The meeting also approved, in principle, "Netting of Financial Contracts Bill, 2020" to remove any uncertainty in enforcing the netting rights in case of a termination event, bankruptcy, insolvency proceedings, limits the power of the liquidators to prevent any cherry picking of qualified financial contracts/transactions, which fall under the ambit of netting provisions and allows financial collateral arrangements under such netting rights.
The meeting was informed that once the law is enforced the qualified financial contracts will always be settled on the basis of "netting" in the presence of the netting arrangement.
After the Advisor on Finance Dr Abdul Hafeez Shaikh briefed the federal cabinet about the progress made in regulating affairs of Competition Commission of Pakistan, the federal cabinet approved appointment of Shaista Bano Gillani as acting chairperson Competition Commission of Pakistan.
The meeting also proved restructuring of Board of Directors of Pak-Arab Refinery Limited (Parco).
Aftab Hussain (Sindh), Abdul Hadi Shah (Khyber-Pakhtunkhwa) and Bushra Naz Malik (Punjab/Women representative) were approved as members on the Board of Parco.
The Cabinet granted approval for nomination of director against the casual vacancies of the Board of Directors of the SNGPL, the Pakistan Petroleum Limited, Pakistan Mineral Development Corporation and Ogra as well as modalities for export of chloroquine by importers in possession of raw material.
The Cabinet decided to notify that all companies supplying electricity or gas through distribution or transmission line be members of a Credit Bureau and to furnish information in accordance with the Credit Bureau Act, 2015.
The meeting, while approving allocation for grant-in-aid from the federal government for journalists and journalistic bodies especially press clubs, tasked Minister for Information and Special Assistant to Prime Minister (SAPM) for Information to finalize procedure/SOPs for disbursement of the grant to the deserving journalists and journalistic bodies.
The premier in his remarks to the cabinet stated that the government has planned to offer government owned land located in major cities to the overseas Pakistanis in order to generate much need financial resources.
He also directed all ministries to expedite setting up of think-tank comprising of area experts and professionals in the ministries in order to bring about qualitative improvement in the overall performance and output of the ministries.
The Cabinet ratified the recommendations of the CCLC (Cabinet Committee on Legislative Cases) made in its meeting held on April 27 2020 and decisions of the Economic Coordination Committee taken in its meetings held on April 22 and April 27, 2020.