ISLAMABAD: The Federal Cabinet has allowed the State Bank of Pakistan (SBP) to acquire shares of ZTBL and HBFCL.
The arrangement would settle the loans owed to SBP by ZTBL and HBFCL. Prime Minister Shahid Khaqan Abbasi on Wednesday chaired a meeting of the Federal Cabinet at the Prime Minister’s Office.
The Combined Financial Statements of the Federation, all Provincial Governments and District authorities for the years 2010-2011 to 2013-2014 were also placed before the Federal Cabinet for perusal.
The Cabinet approved a proposal for issuance of 50,000 pieces of commemorative coins of Rs. 50 in honor of Dr. Ruth Pfau.
The Federal Cabinet approved a proposal to replace Ms. Faryal Jooma with Haq Nawaz as one of the members of the Board of Directors of PIACL.
Appointment of Director Industrial and Commercial Relations (DICR) in Pakistan Ordinance Factories Board was approved by the Cabinet. The Federal Cabinet agreed to a proposal to appoint Mr. Nawaz Raza, Chief Reporter Nawaiwaqt and Sarmad Ali, Managing Director Jang as private members of the Board of Directors of Associated Press of Pakistan Corporation.
Appointment of four officers of Inland Revenue Service as Accountant Members in the Appellate Tribunal Inland Revenue was also approved. The Cabinet approved the appointment of Muhammad Azam as Director General Hydrocarbon Development Institute of Pakistan (HDIP) for a term of three years.
Proposals submitted by Ministry of National Health Services, Regulations & Coordination regarding maximum retail prices of drugs were approved in principle. Proposal of the Ministry of Education and Professional Training to sign a Memorandum of Understanding in the field of Technical and Vocational Training between the Government of Algeria and the Government of Pakistan was also approved.
The Cabinet approved the appointment of Rear Admiral Jamil Akhtar, HI (M) as Chairman Karachi Port Trust (KPT) for a period of three years. The Cabinet approved appointment of Naeem Y. Zamindar as the Chairman of Board of Investment.
