Prime Minister Shehbaz Sharif directed ministries to redirect 60% of public sector imports and exports through Gwadar Port and disclosed plans for a detailed meeting this week to explore lowering electricity tariffs.
During his opening address at a federal cabinet meeting, Shehbaz expressed gratitude to UAE President Sheikh Mohamed bin Zayed Al Nahyan for extending the $2 billion debt rollover. He recounted a productive dialogue with President Al Nahyan in Rahim Yar Khan to enhance bilateral ties and investment cooperation.
Shehbaz emphasized that the national economy is now on a stable path, urging efforts to “make Pakistan prosperous and restore its former grandeur.” He highlighted the ‘Uraan Pakistan’ program, which seeks to cut electricity costs to boost exports and commerce.
The Prime Minister also mentioned an upcoming visit from Indonesian President Prabowo Subianto, noting that discussions would focus on cooperation in Halal meat and rice exports and edible oil import.
A statement from the Prime Minister’s Office reported that the Maritime Affairs Ministry briefed the cabinet on handling public sector imports and exports through Gwadar Port by 11 federal ministries and divisions from March 2024 onward.
Shehbaz instructed to include all relevant ministries’ reports in the briefing and demanded a detailed report. He mandated that 60% of all public sector imports and exports proceed via Gwadar Port.
Additionally, following a suggestion from the Revenue Division, the federal cabinet placed the FBR infrastructure under the Prevention of Electronic Crimes Act 2016 to shield it against cyber threats like hacking.
The cabinet endorsed a Memorandum of Understanding between the Investment Board and China’s Shandong Ruyi Group for establishing textile parks and another MoU between the Diplomatic Academy of Serbia’s Foreign Ministry and the Foreign Service Academy of Pakistan.
