Rs11.1bn rehabilitation package approved for Railways | GEO | LIVE GEO NEWS | GEO NEWS | GEO TV

ISLAMABAD: The Federal Cabinet which met here Wednesday with Prime Minister Syed Yousuf Raza Gillani in the chair reviewed the status of implementation of Cabinet decisions pertaining to food and agriculture, foreign affairs, health, housing and works and industries and Production decisions. The Cabinet approved a financial package of 11.1 billion rupees for repairs and rehabilitation of 145 locomotives, improvement of tracks, maintenance of coaches and strategic reserves to buy oil. Later briefing the media about the cabinet, Information Minister Qamar Zaman Kaira said that while reviewing the status of pending decisions the Prime Minister directed that the process of consultation among various ministries or with foreign countries be expedited to ensure early implementation. All the ministers, he said, should hold monthly meetings to monitor the progress of decisions and MOUs signed with different countries in order to identify the impediments if any. The prime minister directed that the restructuring plan of Pakistan Railways, Pakistan Steel Mills and Pepco be presented in the next cabinet meeting for discussion and finalization. The restructuring plans for the remaining five public sectors be presented in the subsequent cabinet meeting. These include PIA, NHA, TCP, Utility Stores Corporation and Passco. Kaira said that the cabinet ratified Saarc Agreement on Trade in Services. It also accorded approval to the signing of inter-Government framework Agreement with China regarding provision of concessional loan for PAKSAT - IR Ground Control Segment Project. The Cabinet approved the ratification of additional protocol of the Agreement on simplification of visa procedure for businessmen on ECO member states. It also approved in principle to negotiate and sign loan offered by the Government of Japan through agreement on Flood Disaster Emergency Import Support Loan. It also approved the proposed amendments in the original Ordinance of National University of Modern Languages Islamabad and signing of two agreements on Economics and Technical Cooperation for Grant Assistance of two hundred million dollars. The cabinet approved the instrument of ratification of agreement between the Governments of Pakistan and Indonesia and Pakistan and Sri Lanka and Tunisia, on the abolition of visa for diplomatic and official passport holders. Information Minister said that a detailed presentation was made to the cabinet on the Ministry of Railways, its current affairs immediate needs and future plans. The Cabinet agreed to support Pakistan Railways in meeting its immediate needs to keep it running till the finalization and implementation of restructuring plan. The Cabinet approved a financial package of 11.1 billion rupees for repairs and rehabilitation of 145 locomotives, improvement of tracks, maintenance of coaches and strategic reserves to buy oil. The Cabinet also agreed to enhance over draft facility to Pakistan Railways by the State Bank to the tune of 10 billion rupees which would be converted into long term loan. The Cabinet was apprised that the relief given to Pakistan Steels in June this year, the production of Pakistan Steel Mills has risen from 18 to 48 per cent and the losses have been reduced substantially. Regarding GST Reform, the minister said that there is need to make legislation to eradicate corruption and reform the tax system. He said tax reforms are in the interest of the country and the economy is being restructured. To a question regarding blasphemy law, he said it is a baseless movement as no Muslim can think to compromise on this issue. He said even the minorities in the country respect the Holy Prophet. To another question about the investigations into the martyrdom of Benazir Bhutto, Kaira said that it is in final stages and people and the PPP Government want her assassins should be brought to the book and no one would be spared in this connection whosoever he may be.