With the collaboration of Russia, the Federal Cabinet of Pakistan affirmed for a 600MW Natural Gas Combined Cycle Power Plant project in Jamshoro.
This project was in discussion since last year between the two countries. Both Russia and Pakistan have already discussed all the practicalities relating the said project.
In an official statement made by the Prime Minister Shahid Khaqan Abbasi in a cabinet meeting, the confirmation about the start of this cooperative venture between Pakistan and Russia was confirmed.
Power Division was authorized by the cabinet to negotiate on the details of the 600MW Natural Gas Combined Cycle Power Plant agreement and to bring the decided version before the cabinet.
With the consultation of Finance Division and Economic Affairs Division (EAD) the terms and conditions of the loan would also be settled by the Power Division.
China is such country that stays with Pakistan through thick and thin and Pakistan’s new foreign policy encourages on the retainment of this connection. Also, the new foreign policy emphasizes on enhancing bonds with Russia.
As per the statement of one of the senior foreign ministry official the ties with Russia are on the road of improvement so it’s being given weight as the goal is to have Russia with us. This statement was made after the Envoy Conference 2017.
After the disregard of US President Donald Trump in August towards Pakistan, Khawaja Mohammad Asif (Foreign Minister Pakistan) gave his statement that Pakistan needs to find a “correct direction” quickly.
Other findings of the cabinet meeting were the signing of the Financial Cooperation Agreement 2015 between Pakistan and Germany and a Memo of understanding between Pakistan and China about Intellectual Property.
Plans for the making of Insurance Tribunals at Lahore and Multan were also signed. The topic of the re-election of Nawaz Sharif (ousted Prime Minister) as the chief of Pakistan Muslim League-Nawaz also conversed.
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The whole cabinet along with the Prime Minister, Shahid Khaqan Abbasi was agreeable on re-electing Nawaz Sharif as the ruling Party’s head as he has got good know how on government policies and could prove a great help to the government.
During the United Nations General Assembly, foreign minister Pakistan was there. He met with Rex Tillerson (United States Secretary of State). This meeting would prove helpful in clearing the misunderstandings between Pakistan and United States. The details of this meeting were also shared with the cabinet. Mr. Abbasi (Prime Minister Pakistan) said that the relations with the US are improving.
Pakistan International Airlines Corporation Limited was relieved from the fee payable at 0.1 % to Pakistan Stock Exchange and from 10 % supervisory fee payable to Securities and Exchange Commission of Pakistan as per the cabinet’s approval.
Another approval was given for the amendment of already present contracts of Pakistan with Korea, Qatar, and Canada about the prevention of double taxation and avoidance of fiscal evasion in line with the taxes on income for the updation of the article on the information exchange.
Mr. Ahmer Shehzad’s (Air Marshal) appointment as Chairman Pakistan Aeronautical Complex Board, Kamra was also accepted by the cabinet.
Judicial Member (BS-21), Omar Arshad Hakeem’s contract was also extended by the cabinet approval. The cabinet also agreed on the appointment of Judge Banking, Court-I in Hyderabad.
Cabinet was briefed about the work regime of ministry by the secretary of Parliamentary Affairs.