Federal Cabinet ratifies key economic and legislative decisions

ISLAMABAD: The Federal Cabinet, chaired by Prime Minister Shehbaz Sharif, on Monday ratified a series of important economic and legislative decisions, reaffirming the government’s commitment to economic reforms and stability.

According to an official announcement, the cabinet approved the decisions taken by the Cabinet Committee on Legislative Affairs (CCLC) during its meetings held on December 3 and December 30. The cabinet also ratified the decisions of the Economic Coordination Committee (ECC).

During the meeting, approval was granted for actions related to the Islamabad Capital Territory Local Government Amendment Ordinance. The cabinet also endorsed the provision of relief to electricity distribution companies concerning the levy imposed on off-grid captive power plants.

PM Shehbaz Sharif congratulated cabinet members on the New Year and highlighted key achievements of the government. He termed the transparent privatisation of 75 per cent shares of Pakistan International Airlines (PIA) a major success, stating that privatisation is a core component of the government’s broader vision for economic reforms.

The prime minister said that GDP growth recorded in the first quarter of the current fiscal year was a welcome development, adding that the country had been brought back from the brink of default and placed on a path toward economic stability.

He also briefed the cabinet on his recent meetings with the President of the United Arab Emirates (UAE) and the Crown Prince of Saudi Arabia. Emphasizing the importance of regional partnerships, the prime minister stressed the need to further strengthen economic and strategic relations with both the UAE and Saudi Arabia.

The meeting concluded with the cabinet reaffirming its support for the government’s reform agenda and efforts to sustain economic recovery.