Prime Minister Shehbaz Sharif has reiterated his government's commitment to addressing the issue of high electricity prices, stating that Pakistan cannot progress without affordable energy.

During a federal cabinet meeting on Tuesday, the premier announced plans to convene a detailed session this week to explore options for reducing power costs.

Briefing the cabinet, Prime Minister Sharif shared updates on his recent meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan.

He revealed that the UAE leader had graciously extended the repayment period for a $2 billion loan due in January, a move the prime minister described as a significant gesture of support.

PM Shehbaz cabinet meeting PTI latest

"The proposal for the extension came directly from Sheikh Mohammed bin Zayed Al Nahyan, for which I thanked him," the Prime Minister noted. The two leaders also discussed avenues for enhancing investment in Pakistan.

Revival of SMEDA and economic development

During the meeting, PM Shehbaz slated the lack of performance by the Small and Medium Enterprise Development Authority (SMEDA), calling it a "burden on the economy."

Federal Cabinet

He disclosed that his government had recently reconstituted the board of SMEDA and expressed hope for greater collaboration between federal and provincial governments to rejuvenate the institution. "SMEDA has the potential to be the backbone of Pakistan's economy," he added.

The premier also welcomed the increase in textile exports, highlighting their critical role in boosting the country’s foreign exchange reserves.

Strengthening trade with Indonesia

PM Sharif informed the cabinet that Indonesian President Joko Widodo is scheduled to visit Pakistan later this month. He emphasized the importance of the visit for bilateral trade and identified halal meat and rice as key export opportunities to be discussed during the talks.

Condemnation of attack in Lower Kurram

Referring to the recent attack on an official convoy in Lower Kurram, the Prime Minister condemned the incident as a "despicable act" intended to undermine the peace agreement in the region. He prayed for the swift recovery of Deputy Commissioner and other officials injured in the attack.

PM Shehbaz lauded the Interior Minister and his team for their efforts in combating human trafficking, calling for unity in eradicating the "heinous business."

Additionally, the cabinet was briefed on the implementation of e-office systems across federal ministries. Officials reported that paper-based communication has been replaced by digital platforms in 21 ministries, marking a milestone in e-governance.

The cabinet also approved several initiatives, including the signing of a Memorandum of Understanding with a Chinese company for the establishment of textile parks. Moreover, the government exempted the procurement of used Chromebooks for educational institutions from Public Procurement Regulatory Authority (PEPRA) rules but mandated a third-party audit to ensure transparency.