ISLAMABAD: Pakistan’s federal cabinet, chaired by Prime Minister Shehbaz Sharif, on Tuesday approved the Trade Framework Agreement between Pakistan and Mercosur, a South American trade bloc that includes Brazil, Argentina, Paraguay, and Uruguay.
The Prime Minister highlighted the potential benefits of the South American market for Pakistani products, noting that it has yet to be fully explored. He urged relevant authorities to expedite the implementation of pending economic agreements and Memorandums of Understanding (MoUs).
The Prime Minister also expressed satisfaction with the reduction in the inflation rate to single digits in August and commended the finance ministry, the State Bank governor, and other associated departments for their efforts.
Emphasizing the need for further economic stability, the Prime Minister reaffirmed the government’s commitment to creating employment opportunities as a priority.
In addition to endorsing the Trade Framework Agreement, the cabinet approved an MoU between Pakistan’s Ministry of Foreign Affairs and Albania’s Ministry of Europe and Foreign Affairs for bilateral political consultations.
The cabinet also supported the Convention on the Privileges and Immunities of the Secretariat, its Personnel, and Representatives of Members of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) 2010, following a recommendation from the foreign ministry.
Syed Junaid Ikhlaq’s tenure as Chairman of the Federal Board of Intermediate and Secondary Education (FBISE) was extended until a regular appointment was made. Ikhlaq is currently serving as Senior Joint Secretary of the Ministry of Federal Education and Professional Training.
A committee was established to review drafts of the Religious Tolerance and Interfaith Harmony Policy, with a report expected within a month following consultations with all stakeholders.
The cabinet also ratified decisions made by the Cabinet Committee on Legislative Cases during its meeting on August 26, 2024.
The meeting concluded with a tribute to Member of the National Assembly Rana Afzaal Hussain, who passed away.
The cabinet members offered Fateha in his honor, acknowledging his contributions and noting that he was the brother of Federal Industries and Production Minister Rana Tanveer Hussain.
