Cabinet endorses Trade Framework Agreement between Pakistan, Southern Common Market

ISLAMABAD: The federal cabinet on Tuesday gave ex-post facto approval and endorsed the signing of Trade Framework Agreement between Pakistan and Mercosur, a South American trade bloc comprising Brazil, Argentina, Paraguay and Uruguay.

The prime minister, who chaired the meeting of the federal cabinet, said that the South American Market could prove advantageous for the Pakistani products which could not be explored yet, he remarked.

He instructed the authorities concerned to swiftly pursue the agreements and MoUs related to the economy which had been pending for long.

The prime minister expressed satisfaction over the inflation rate declined to single-digit in August this year and appreciated the finance ministry, State Bank governor and other allied departments for their efforts in this regard.

Calling for more efforts to bring in economic stability, the prime minister said that the creation of employment opportunities was among government’s priorities.

The federal cabinet approved the signing of an MoU between the Pakistan’s Ministry of Foreign Affairs and Albania’s Ministry of Europe and Foreign Affairs for bilateral political consultation.

On the foreign ministry’s recommendation, the cabinet also endorsed the Convention on the Privileges and Immunities of the Secretariat, its Personnel and Representatives of Members of Conference on Interaction and Confidence Building Measures in Asia (CICA) 2010.

The body approved extension in the tenure of Syed Junaid Ikhlaq, Senior Joint Secretary of Ministry of Federal Education and Professional Training as Chairman of Federal Board of Intermediate and Secondary Education (FBISE), till the appointment of a regular officer on the post.

The federal cabinet formed a committee to discuss the drafts of the Religious Tolerance and Interfaith Harmony Policy that wil present its report within a month after consultation with all stakeholders.

The meeting also endorsed the decisions of Cabinet Committee on Legislative Cases made in its meeting on August 26, 2024.

The cabinet members also offered Fateha for Member of National Assembly late Rana Afzaal Hussain, the brother of Federal Industries and Production Minister Rana Tanveer Hussain.