Key Decisions from Pakistan’s Federal Cabinet Meeting: A Step Towards Economic Stabilization
In a significant meeting held on Friday, Prime Minister Shehbaz Sharif and his federal cabinet endorsed several policy decisions aimed at fostering economic growth and restructuring local governance in Pakistan. This assembly was not just a routine affair; it marked a pivotal moment in the country’s journey toward economic stability.
Economic Growth as a Central Focus
Prime Minister Shehbaz underscored that economic stabilisation is top of the agenda for his administration. He pointed to the growth recorded in the first quarter of the current financial year as a hopeful sign of renewed confidence in Pakistan’s economy. A notable shift from what seemed like the brink of default towards a steadier economic footing is a testament to the firm steps being taken.
With the government’s commitment to restructuring loss-making state-owned enterprises firmly on the table, attention turned to the privatization of the Pakistan International Airlines (PIA). The sale of a majority stake in PIA emerged as a key milestone, with Shehbaz noting that 75% of the airline’s shares had been privatised through a transparent bidding process. This bold move is expected to limit losses at state entities, a vital part of broader economic reform efforts.
Diplomatic Efforts Yield Positive Results
In addition to domestic policies, the Prime Minister shared insights from his recent diplomatic efforts, highlighting productive meetings with leaders from the UAE and Saudi Arabia. Such dialogues underscore Pakistan’s focus on enhancing bilateral relations, especially in terms of economic and strategic cooperation.
Local Government Reforms: The Way Forward
Further discussions in the meeting revolved around the formal ratification of key legislative measures. The cabinet endorsed recommendations from the Cabinet Committee for Legislative Cases, which included provisions related to the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025. This ordinance is set to pave the way for a more effective local governance structure, a move that holds importance ahead of the upcoming elections. Sources suggest that the Punjab model will serve as a guiding framework for these local government elections, illustrating the government’s intent to streamline administrative processes.
Energy and Financial Policy Measures
The cabinet also took significant strides in energy policy. Approval has been granted for an ordinance to amend the Off-Grid (Captive Power Plants) Levy Act, enabling third-party gas sales to off-grid captive power producers under a revamped legal framework. This step is vital for ensuring consumers receive relief and for implementing comprehensive energy management strategies.
Conclusion
As the federal cabinet moves forward with these decisions, the focus remains on achieving fiscal space, enhancing governance, and stabilizing the economy. Each of these measures is a building block toward a brighter future for Pakistan.
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