Updated on
Summary
The Cabinet meeting ended with several important announcements in post meeting Press Conference. The Federal Minister for Information and Broadcasting Qamar Zaman Kaira has announced that the Federal Cabinet has given green signal to three development projects that depend on Financial Aid. He also announced that Salaries of Officers of the Armed forces have been raised by 15% while the salaries of Soldiers of the Armed forces have been raised by 20%. Asian Development Bank (ADB) Rental Power Project (RPP) report was presented in the cabinet meeting. A new Power Plant to be established in Guddu.Kaira said that the Cabinet was also given a review regarding supply of Sugar in the country. Utility stores would provide sugar at discounted prices. Due to lack of Sugar Cane crop, country is facing an acute shortage of 1.2 million tons of sugar. TCP has been order to import of half million tons of sugar immediately. 3 million tons of wheat stock expected to remain by the end of the year.The Federal Finance Minister Shaukat Tarin gave briefing on state of the Economy, he also informed that Imports have reduced by 3%, while textile export have shown increase. According to him Quetta Police salary issue had been resolved. Foreign Exchange Reserves have reached to $ 15.9 billion. Current account deficit have improved by 78%.The Federal Minster for Water and Power Raja Pervaiz Ashraf has said that the only those RPP would be installed that have cleared in the ADP report. He also said that if we are to control the electricity crisis the tariff charges have to be raised. New Hydro Power and Coal Power generation projects would be online within the next three years. The pace of work on Hydro Power generation project has been accelerated.
