PM chairs cabinet meeting; various agenda items approved

ISLAMABAD: The federal cabinet which met here Tuesday with Prime Minister Shahid Khaqan Abbasi in chair approved various agenda items including the establishment of Insurance Tribunals at Lahore and Multan.

The cabinet approved exemption to Pakistan International Airlines Corporation Limited (PIACL) from fee payable @ 0.1% to the Pakistan Stock Exchange and supervisory fee payable @ 10% to the Securities & Exchange Commission of Pakistan of PSX fee on issuance of additional shares.

It also approved the signing of Financial Cooperation Agreement 2015 with Germany.

The cabinet approved Pak-China cooperation in the field of Intellectual Property (IP) – signing of MoU.

It also approved ratification of the Statute of the ECO Regional Centre for Cooperation of Anti-Corruption Agencies and Ombudsman (RCCACO).

The cabinet approved the initiation of agreement between the Government of Pakistan and the Russian Federation on cooperation for the construction of 600 MW Natural Gas Combined Cycle Power Plant at Jamshoro.

It also accorded approval to amend the existing Convention between Pakistan and Korea for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income for Updation of Article on Exchange of Information.

The cabinet gave approval to amend the existing Convention between Pakistan and Qatar for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income for Updation of Article on Exchange of Information.

It also accorded approval to amend the existing Convention between Pakistan and Canada for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income for Updation of Article on exchange of information.

The cabinet approved appointment of Air Marshal Ahmer Shehzad as Chairman Pakistan Aeronautical Complex (PAC) Board, Kamra.

The meeting also approved extension in contract period of Mr Omar Arshad Hakeem, Judicial Member (BS-21) Customs Appellate Tribunal Bench-II, Lahore.

The cabinet also approved appointment of Judge Banking Court-I, Hyderabad.

Secretary, Parliamentary Affairs Division briefed the Cabinet on working of the Ministry.