The Federal Cabinet gave ex-post facto approval and endorsed the signing of a Trade Framework Agreement between Pakistan and Mercosur, a South American trade bloc comprising Brazil, Argentina, Paraguay, and Uruguay.
Prime Minister Shehbaz Sharif, who chaired the federal cabinet meeting, noted that the South American market could offer significant opportunities for Pakistani products that have yet to be explored.
He instructed the relevant authorities to expedite the agreements and MoUs related to the economy that have been pending for a long time.
The prime minister also expressed satisfaction with the decline in the inflation rate to single digits in August and appreciated the efforts of the finance ministry, the State Bank governor, and other allied departments in achieving this.
Emphasizing the need for further efforts to ensure economic stability, the prime minister reiterated that job creation remains a priority for the government.
The federal cabinet also approved the signing of a Memorandum of Understanding (MoU) between Pakistan’s Ministry of Foreign Affairs and Albania’s Ministry of Europe and Foreign Affairs for bilateral political consultations.
On the foreign ministry’s recommendation, the cabinet endorsed 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.
The cabinet approved the extension of Syed Junaid Ikhlaq’s tenure as Senior Joint Secretary of the Ministry of Federal Education and Professional Training and as Chairman of the Federal Board of Intermediate and Secondary Education (FBISE) until a regular officer is appointed.
Additionally, the cabinet formed a committee to discuss the draft of the Religious Tolerance and Interfaith Harmony Policy. The committee will present its report within a month after consultations with all stakeholders.
The meeting also endorsed the decisions of the Cabinet Committee on Legislative Cases made during its August 26, 2024, session.
