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What happened in the Cabinet meeting?


News Analysis |

Federal Minister for Petroleum Ghulam Sarwar Khan and Minister for Information and Broadcasting Fawad Chaudhry held a press conference on the eve of Thursday to address some very important issues. Mr. Chaudhary made it clear that the cabinet has decided to remove the illegally appointed presidents of National Bank, Zarai Taraqiati Bank, First Women Bank, and SME Bank.

The minister also added that these appointments were made by the former Finance Minister Mr. Ishaq Dar. According to details, the sacked heads include National Bank chairperson Saeed Ahmed, First Women Bank President Tahira Raza, Zarai Taraqiati Bank President, and CEO Syed Talat Mehmood and SME Bank President Ehsanul Haq Khan.

In this regard, the Saudi Energy Minister is expected to visit Pakistan and sign some crucial projects with the PTI-led government in Islamabad.

These are said to be the most important appointments by any government since they play a fundamental role in stabilizing the economy in the country. PM Imran Khan has made it clear on several occasions that he won’t tolerate corruption at any cost. Therefore, above mentioned heads of respective departments and organizations needed to be replaced.

Moreover, Federal Minister for Petroleum Ghulam Sarwar Khan clarified that the country needs four or five oil refineries and the PTI government was ready to welcome any country for investment in this regard. PTI’s leader and current Finance Minister, Asad Umar has also previously stated in a live TV show that he will welcome investment in the country to generate economic activity which is pivotal for the survival of Pakistan.

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The Minister for Petroleum further said that Pakistan and Kingdom of Saudi Arabia(KSA) have agreed to set up a state-of-the-art oil refinery in Gwadar, adding the cabinet has approved a Memorandum of Understanding (MoU) between Pakistan and Saudi Arabia in this regard.

“The MoU is expected to be signed when Saudi Energy Minister would visit Pakistan at the end of this month or beginning of the next month,” he added. He said the cost and capacity of the refinery have not yet been finalized. The minister said: “Pakistan has also offered several other important projects to Saudi Arabia for investment and Riyadh has promised to consider these proposals.

The PTI-led government is addressing the economic challenges but it is yet to be seen how far it remains successful in achieving its stated agenda.

They include North-South and South-North pipelines and exploration of oil and gas in different parts of the country.” PM Khan made his maiden official visit to KSA to enhance bilateral relation and ensure more economic cooperation between the two states. The KSA has reportedly agreed to invest in Pakistan.

In this regard, the Saudi Energy Minister is expected to visit Pakistan and sign some crucial projects with the PTI-led government in Islamabad. PM Khan spoke to government officers on Thursday where he elaborated the reasons behind his recent official visit to KSA. PM Khan repeatedly said that he did not go for aid, but for investment. “I have ensured them about a better governance system in Pakistan,” he said.

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PM Khan and his team are said to be very concerned about the current state of the economy in Pakistan. Pakistan is passing through its worst times, said the Finance Minister in the National Assembly. The PTI-led government is addressing the economic challenges but it is yet to be seen how far it remains successful in achieving its stated agenda.

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