Federal Cabinet approves power plant agreement with Russia

ISLAMABAD (92 News) – Prime Minister Shahid Khaqan Abbasi chaired a meeting of the Federal Cabinet at Prime Minister’s Office on Tuesday. On agreement between the Government of the Russian Federation and the Government of Pakistan on cooperation for the construction of 600MW natural gas combined cycle Power Plant at Jamshoro, the Cabinet authorized Power Division to negotiate the details of draft Framework Agreement and bring the agreed version before the Cabinet. It would also finalize the terms and conditions of the loan in consultation with EAD and Finance Division. The Cabinet approved a proposal by Aviation Division to grant exemption to Pakistan International Airlines Corporation Limited (PIAC) from fee payable at 0.1% to the Pakistan Stock Exchange Limited (PSX) and supervisory fee payable at 10% to Securities and Exchange Commission of Pakistan of PSX fee on issuance of additional shares. Establishment of Insurance Tribunal at Lahore and Multan was also approved. The Cabinet approved appointment of Air Marshal Ahmer Shahzad as Chairman Pakistan Aeronautical Complex Board Kamra. Extension in contract appointment of Omar Arshad Hakeem, Judicial Member (BS-21) Customs Appellate Tribunal, Bench-II Lahore for a further period of two years was allowed by the Cabinet. The Cabinet approved a proposal of Law and Justice Division for repatriation of Manoo Mal Khagaija, Judge Banking Court-I Hyderabad to Sindh High Court and appointment of Syed Nasiruddin Shah, District and Session Judge as Judge Banking Court-I Hyderabad. The Cabinet also ratified recommendations of the Cabinet Committee for disposal of legislative cases held on 22-09-2017. Decisions taken by Economic Coordination Committee of the Cabinet in its meeting held on 14-09-2016 were ratified by the Cabinet. Proposal of Economic Affairs Division for signing of Financial Cooperation Agreement (FCA) 2015 with Germany was approved. The Cabinet allowed signing of MoU between Intellectual Property Organization (IPO) of Pakistan and State Intellectual Property Office (SIPO) of China. The Cabinet ratified the Statute of the ECO Regional Centre for Cooperation of the Anti-Corruption Agencies and Ombudsmen (RCCACO). It approved proposal of Revenue Division to amend the Convention of the Avoidance of Double Taxation between Pakistan and Korea.