Federal cabinet rejects to increase retail prices

Federal cabinet rejects to increase retail prices. The Federal cabinet has rejected to increase retail prices of ten different medicines.

The federal cabinet, which met in Islamabad on Tuesday, declined a summary of the Ministry of National Health Services, Regulations, and Coordination regarding hike in medicines’ price.

Speaking on the occasion, Prime Minister Shehbaz Sharif said that he did not support the idea of enhancing medicines’ rates.

The PM also gave a task to Finance Minister Miftah Ismail, Minister for Food Security Tariq Bashir Cheema, and Minister for Maritime Affairs Faisal Sabzwari, Commerce Minister Syed Naveed Qamar, and Advisor on Kashmir Affairs and Gilgit-Baltistan Qamar Zaman Kaira for improving harmony among provinces regarding fixing of wheat prices and distribution of urea.

The cabinet also extended Minimum Energy Performance Standards for electric fans till the end of June this year. However, the Prime Minister directed to improve the Minimum Energy Performance Standards before 30th June this year.

Read more: Miftah announces tax relief for shop-owners consuming less than 150 units

A summary for Mutual Legal Assistance for countries with whom no such agreement exists at present also got nod of the federal cabinet.

The meeting also discussed a report regarding the overbooking of Government Hajj Scheme quota. It was told that no bad intention was found in this matter. However, the banks, which overbooked Government Hajj quota, have paid the compensation amount to the pilgrims. On this matter, the Prime Minister directed the Ministry of Finance and the State Bank of Pakistan to seek explanation from such banks and the reason behind this negligence. He directed the State Bank of Pakistan for issuing instructions to the concerned banks to continue working on off-days as well in flood-hit areas.

Furthermore, the cabinet also gave approval over an important matter ahead of the Prime Minister’s visit to Uzbekistan related to Pakistan’s decision to sign an agreement with the member countries of the Shanghai Cooperation Organization in the agricultural sector.

The summary was approved by the federal cabinet through circulation and the agreement will be signed during the PM’s visit to Uzbekistan.