Islamabad, December 2, 2024 -The Federal Cabinet, chaired by Prime Minister Shehbaz Sharif, approved the National Prevention of Violent Extremism Policy 2024 on Monday, along with several significant initiatives.
The cabinet granted approval for establishing the Islamabad Central Business District Development Authority, aimed at accelerating economic growth. It also authorized a review petition against the Supreme Court’s ban on monosodium glutamate (Ajinomoto), based on findings from an expert committee that declared the substance safe for human health.
In the education sector, the cabinet renewed agreements with prestigious global institutions, including the University of Cambridge, University of Oxford, and Peking University, among others. It also approved the nomination of subject experts to boards of governance for the University of Engineering and Technology (UET) Lahore and the Center of Excellence in Mineralogy, University of Balochistan, Quetta.
The meeting approved amendments to the jurisdiction of special courts addressing customs, taxation, and anti-smuggling cases in Quetta and Khuzdar, following directives from provincial high courts. It also authorized additional sessions courts to hear cases under the Lawyers Welfare and Protection Act 2023, aligning with rulings from multiple high courts across Pakistan.
During the meeting, Prime Minister Shehbaz Sharif praised his government’s economic team for achieving milestones in stabilizing the economy. He noted that inflation had dropped to 4.9% in November, the lowest in 70 months, compared to 7.2% in October 2024. This, he said, was a result of stringent anti-smuggling measures, enhanced revenue collection, and controlled inflation, which collectively improved the country’s economic outlook.
The Prime Minister emphasized the importance of GDP growth, boosting exports, industrial development, employment creation, and the establishment of Special Economic Zones (SEZs). He explained that reduced inflation directly alleviates poverty by enhancing purchasing power, which would also enable the State Bank of Pakistan to reduce policy rates in its upcoming meeting.
The government approved the export of 0.79 million tonnes of sugar, projected to generate $500 million in foreign exchange while stabilizing domestic sugar prices. The Prime Minister also commended the Pakistan Army for its efforts in eradicating smuggling through strict border enforcement, which had previously been challenging for other law enforcement agencies.
Highlighting a major achievement, the Prime Minister announced the restoration of Pakistan International Airlines (PIA) flights to Europe after more than four years. He credited the Ministry of Aviation and its team for their dedicated efforts while expressing regret over the negative economic impact of earlier mismanagement in the sector.
Prime Minister Shehbaz reiterated the government’s commitment to maintaining economic stability, fostering global collaboration, and improving governance to address key national challenges effectively.
