Muhammad Asad
ISLAMABAB: The government set to make the State Bank of Pakistan accountable the parliament through an amendment approved by the cabinet in today meeting chaired by the Prime Minister of Pakistan.
It was shared by the Minister of Information and Broadcasting Senator Shibli Faraz, followed by Federal Minister for Finance Dr. Hafeez Shaikh flanked by several ministers and advisors in a news conference in Islamabad.
The federal Minister were sharing the government decisions taken by the cabinet in today’s meeting. Shibli said that government latest bill will make the State Bank more independent and stronger than ever before.
Shibli said that Cabinet also approved the Pakistan’s commitment to SAARC for donation of US $ 3 million and these donations will be in the form of Coronavirus related medical equipment, likely to be delivered by the Pakistan in coming weeks. He also informed the media that Cabinet approved replacing Drug Regularity Authority of Pakistan (DRAP) Chairman Shaikh Ghulam Hussain with Mr. Asim Rauf, who will act as temporary Chairman of DRAP.
He said that Cabinet also gave ok, to the appointment of Mr. Aizaaz Ahmed as Managing Director of NTDC.
Information Minister informed the media that Chairman Broadsheet Commission Justice Retired Azmat Saeed refused to receive any privilege for his services in this capacity and federal cabinet apricated the decision of Justice retired Azmat Saeed. According to Shibli Cabinet also approved Pak-Russian North South Gas Pipeline agreement amendment protocol during today’s meeting. He said the cabinet also approved the draft Income Tax Amendment Bill-2021.
Finance Minister Abdul Hafeez Shaikh said that strengthening the national institutions to make them independent is government’s top priority. Hafeez claimed that due to effective measures taken by the government the losses of State-owned Enterprises remained half and hopefully these institutions will emerge as profitable enterprises in next few years.
While answering a question, Hafeez Shaikh said that the current account is in surplus due to the reduction in expenses.
According to him, government is endeavoring to strengthen the institutions and improve the tax system on priorities basis. He informed the media that the government has reinitiated the relation with IMF and soon international board of the world body will visit Pakistan.
SAPM for Institutional reforms and Austerity, Dr. Ishrat Hussain said that reforms are being made on fast track basis to make the institutions profitable. He observed that institutional reforms are need of the hour and government is focusing on improving the performance of the national institutions by following the principle of right person for right job. While answering a query, Dr. Ishrat Hussain said that institutional reforms will prove to be a landmark in improving the performance of the State-owned institutions.
