The Federal Cabinet, on Tuesday, approved the import of three million tonnes of wheat and endorsed the decision taken by the Economic Coordination Committee (ECC) to reduce the prices of flour and sugar.
Prime Minister Shehbaz Sharif chaired the meeting of the Federal Cabinet. The meeting discussed the current political situation in the country and a number of other important matters.
The ECC, on Monday, had decided to import three million tonnes of wheat and approved an additional 1.5 million tonnes of domestic procurement by the public sector. The import of three million tons of wheat is expected to cost the national exchequer $1.2 billion, excluding freight and handling charges.
The cabinet also approved the extension of the Pak-Afghan transit trade agreement for the fourth time in a row. Sources revealed that the Ministry of Commerce (MoC) had submitted a summary for a six-month extension of the transit trade agreement, which was approved by the cabinet. The Pak-Afghan Transit Trade Agreement had originally expired on February 11, 2021, and was extended thrice by the previous government.
The cabinet accepted the resignation of the Water and Power Development Authority (WAPDA) Chairman, Lt. General (retd) Muzammil Hussain. The cabinet appointed Fawad Asadullah as the new Director General (DG) of the Intelligence Bureau (IB).
The attendees were briefed about Pakistan’s energy crisis and the issue of frequent load-shedding. The new government has been trying its best to curb power load-shedding but is faced with fuel shortages due to a dearth of Regasified Liquefied Natural Gas (RLNG).
Foreign Minister Bilawal Bhutto Zardari also attended the meeting and assured the cabinet of Sindh’s full support in governance issues.