Islamabad: The Federal Cabinet, chaired by Prime Minister Shehbaz Sharif, has issued a series of directives aimed at increasing export activities through Gwadar Port and strengthening diplomatic ties with Sri Lanka through the issuance of a commemorative postal stamp. The decisions were part of the broader agenda during the cabinet meeting held today in Islamabad.
According to Ministry of Information and Broadcasting, the Cabinet has endorsed the signing of a Memorandum of Understanding with Sri Lanka to issue a postal stamp commemorating 75 years of diplomatic relations between the two nations. This move highlights the ongoing efforts to enhance bilateral relations and cultural exchange.
The meeting also addressed economic measures, where a report from the Cabinet Committee on the export of sugar, established by the Ministry of Industries and Production, was reviewed. The Cabinet expressed satisfaction over the management of sugar exports which has not only stabilized sugar prices but also ensured fair compensation for sugarcane growers and brought valuable foreign exchange to the country.
Further, the Cabinet has mandated that all government agencies ensure that 50 percent of their imports, including essential commodities like wheat, sugar, and fertilizer, are processed through Gwadar Port. This directive aligns with the government’s strategy to boost the operational capacity and economic significance of the port.
Additionally, to continually assess the progress on this front, a sub-committee of the Cabinet will be established to deliver a quarterly report on the imports and exports through Gwadar Port.
In another decision aimed at improving governance in governmental bodies, the Cabinet, on the recommendation of the Ministry of Maritime Affairs, approved the reconstitution of the Board of Directors of the Korangi Fish Harbour Authority in Karachi, emphasizing the inclusion of representatives from all provinces.
These series of measures reflect the Cabinet’s proactive approach in utilizing strategic assets like Gwadar Port for economic benefits and ensuring equitable representation in government bodies across the country.