This statement follows the federal government’s proposal to replace solar net metering with “gross metering” and concerns over potential new taxes on solar products, which could significantly diminish the financial advantages of domestic power generation.
PM Shehbaz emphasized that the government is aiming to steer the national economy towards a positive direction, expressing confidence in the country’s progress towards economic stability.
He made these remarks during a federal cabinet meeting in Islamabad on Tuesday, where several key decisions were made.
The prime minister reaffirmed the commitment to enhancing the country’s exports by promoting Small and Medium Enterprises (SMEs) and eliminating privileges for the elite and those misusing national resources.
The government prioritizes economic protection for ordinary citizens and providing them with equal opportunities, he added.
Addressing the annual budget for 2024-25, the prime minister instructed cabinet members to participate actively in the ongoing budget discussions in parliament.
**PIA Privatization**
The cabinet was informed that the privatization of Pakistan International Airlines (PIA) is progressing swiftly, with interested companies visiting various airline sites as part of the pre-bidding process. The bidding for the national carrier is scheduled for the first week of August.
PM Shehbaz directed that the PIA privatization process be expedited while ensuring transparency.
**No Sugar Price Increase**
During the briefing on the Economic Coordination Committee’s decisions, it was noted that the country has sufficient sugar stock, and the Sugar Advisory Board and relevant departments have approved the export of surplus sugar after accounting for expected consumption before the next crushing season.
PM Shehbaz stated that the government will not tolerate any increase in sugar prices and ordered the formation of a committee to monitor sugar prices and halt exports if there is any potential for a price hike.
In other decisions, the federal cabinet approved the transit of a truck from Karachi to Kabul carrying spare parts for trucks, on humanitarian grounds, based on a recommendation from the commerce ministry and a request from the World Food Programme (WFP) of Afghanistan.
The cabinet also approved the signing of a Memorandum of Understanding (MoU) between Pakistan’s Ministry of Religious Affairs and Saudi Arabia.
The timeframe of an implementation committee on the immovable property of the late Ameer of Bahawalpur was extended until March 2025, in accordance with the Supreme Court’s ruling and the States and Frontier Regions Division’s recommendation.
Additionally, the federal cabinet approved the appointment of the Executive Director of the Frequency Allocation Board.
The meeting endorsed the annual report of the National Economic Council (NEC) for the fiscal year 2022-23, prepared by the planning ministry for presentation to parliament.
The federal cabinet also approved the Economic Coordination Committee’s (ECC) decisions of June 13, 2024, the Cabinet Committee on Legislative Cases’ decisions of June 11, 2024, and the Cabinet Committee on State-Owned Enterprises’ decisions of June 20, 2024.
