The federal cabinet supported gas tariff hike and other decisions taken by the Economic Coordination Committee (ECC).
Prime Minister Imran Khan chaired the federal cabinet meeting on Thursday.
The federal cabinet meeting was briefed on the government’s 100-day plan and formation of various task forces, sources added.
Members of the federal cabinet were also taken into confidence regarding the Naya Pakistan Housing Programme and the relevant ministries briefed them on acquiring land for the project as well as its economic outline.
A 10-point agenda focusing on the country’s economic and political situation was discussed during the meeting, sources further said.
The sources also said that the federal cabinet accorded approval for formation of a special committee to draft a new arms policy.
Earlier, reports had suggested that Finance Minister Asad Umar will take cabinet members into confidence regarding negotiations with the International Monetary Fund (IMF).
PM Imran said a day earlier that Pakistan might not have to approach the IMF for loans. Prime minister expressed hope that the government will be able to fix economic issues soon with its policies. The government is also in contact with friendly countries for resolution of economic issues.
The government is also in contact with friendly countries for resolution of economic issues, he said.
The PTI government recently announced its decision to approach IMF amid severe criticism from opposition for taking a U-turn on the issue.
According to a British media report, one of the possible reasons for PM Imran Khan not approaching IMF can be Pakistan’s dependence on Saudi Arabia.
Pakistan is holding talks with the Kingdom of Saudi Arabia over this matter and investments in big power projects are also being discussed, the report added. Discussions are also being held with Saudi Arabia over deferred oil payments, the report further said.
During the last federal cabinet meeting held on October 11, the PM Imran directed the Ministry of Finance to hold a thorough investigation into the loans taken by the former governments in the past ten years and their utilization.
The federal cabinet had also accorded approval for the appointment of Air Marshal Arshad Malik as chairman of Pakistan International Airlines and Aoun Abbas as chairman of Bait ul Mal.