ISLAMABAD (Web Desk) - The federal cabinet on Wednesday ratified a defence cooperation agreement between Pakistan and Kuwait, according to a handout issued by the Prime Minister’s Office.
The agreement, aimed at promoting defence cooperation between the two countries, was concluded on June 11, 2023. The Kuwaiti government ratified it on July 19, the handout said.
The cabinet also approved transferring powers delegated to the Khyber Pakhtunkhwa chief minister to the provincial governor. The Centre declared an emergency and imposed governor’s rule in the province on October 11.
The powers relate to managing day-to-day affairs during the emergency and facilitating administrative matters and governance. The KP governor will submit a monthly report to the federal government on their exercise, the statement said.
The cabinet welcomed the decision and expressed hope that the KP Advisory Council, led by Governor Faisal Karim Kundi, would work for the province’s welfare, prosperity, peace and security.
On the recommendation of the Finance Ministry, the cabinet approved designs for new currency notes. The PMO said artists and designers from across the country had submitted proposals, which were reviewed by a cabinet committee after consultations with stakeholders.
The new notes will feature enhanced security measures and modern materials intended to extend their lifespan. The cabinet also approved replacing the Rs10 banknote with a Rs10 coin.
Pakistan continuing efforts for peace in Middle East
Addressing the cabinet, Prime Minister Shehbaz Sharif said global oil prices had surged due to regional instability and that Pakistan was continuing efforts to restore peace.
He referred to Pakistan’s recent engagements with Iran and other regional actors, as well as cooperation under the Makkah Joint Defence Agreement involving Pakistan, Saudi Arabia and Turkiye.
The prime minister said the government had planned to increase fuel prices by Rs15 on Friday, but Petroleum Minister Ali Pervaiz Malik had asked refineries to absorb the cost through their windfall profits. He said the government would not allow the burden to fall on ordinary citizens.
— Prime Minister's Office (@PakPMO) November 4, 2026Shehbaz said the fuel subsidy scheme, launched in September, would continue until the end of December. He said Rs28 billion had been spent so far and described the scheme as transparent, adding that the Intelligence Bureau was monitoring it.
On liquefied petroleum gas, the prime minister said imports would be auctioned in lots to promote competition, with government profits used to subsidise supplies for the public. He said the government was working to meet LPG, liquefied natural gas, petrol and gas requirements ahead of winter despite disruptions to maritime routes.
The prime minister also said the federal government had finalised a proposed Rs160 billion package for Khyber Pakhtunkhwa. He described security as the government’s top priority in the province and vowed to continue counterterrorism efforts with the support of law enforcement agencies and the provincial government.