PM Khan ratifies ECC decisions

By Staff Reporter
Wednesday – April 29, 2020
ISLAMABAD: The prime minister (PM) Imran Khan, Tuesday, chaired meeting of the federal cabinet, the cabinet ratified decisions of the economic coordination committee (ECC) taken in its meetings held on April 22, 2020, and April 27, 2020.

According to an official statement, the PM directed that in wake of current situation, export of all edible items which are consumed by common man, should be banned.

The decision will be reviewed after two weeks. While approving Rs. 75 billion relief package, in the first phase for labour, the PM directed special assistant to prime minister (SAPM) for social welfare and industries minister to devise a comprehensive mechanism for providing relief to the labour.

The cabinet ratified the recommendations of the cabinet committee on legislative cases (CCLC) made in its meeting held on April 27, 2020.

The finance advisor briefed the cabinet about the progress made in regulating affairs of competition commission of Pakistan.

The cabinet approved appointment of Shaista Bano Gillani as acting chairperson competition commission of Pakistan.

The cabinet 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.

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.

The cabinet approved a proposal 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 cabinet while approving allocation for grant-in-aid from the federal government for the journalists and journalistic bodies especially press clubs, tasked the information minister and SAPM for information to finalise procedure/standard operating procedures (SOPs) for disbursement of the grant to the deserving journalists and journalistic bodies.

The cabinet approved restructuring of board of directors (BoD) 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 approved nomination of director against the casual vacancies of the BoD of Sui northern gas pipelines limited (SNGPL), Pakistan petroleum limited (PPL), Pakistan mineral development corporation (PMDC) and oil and gas regulatory authority (OGRA), the cabinet approved assistance package for COVID-19 related healthcare workers.

Any healthcare worker, who dies while performing duties related to COVID-19 shall be entitled to the same package as is applicable to the government servants in cases of security related deaths contained in shudaa package.

The package will be applicable in the domain of Islamabad Capital Territory (ICT), Azad Jammu and Kashmir (AJK) and Gilgit Baltistan (GB).

The cabinet approved the request of inquiry commission, probing into increase in sugar prices, to extend time for submission of the report by three weeks.

The cabinet approved modalities for export of chloroquinine by importers in possession of raw material.

The PM in his remarks to the cabinet said 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.

The PM 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.

SAPM on health Zafar Mirza briefed the cabinet about latest situation of COVID-19.