Federal Cabinet decides to issue Rs 160 billion Term Finance Certificates to address circular debt, load shedding problems

Islamabad: Federal Cabinet meeting chaired Wednesday by Prime Minister Yousuf Raza Gilani decided to issue Rs 160 billion Term Finance Certificates TFCs to address circular debt and power load shedding problems in the country.

This will help halve circular debt and improve efficiency of power generation companies. Later briefing newsmen‚ Information Minister Dr. Firdous Ashiq Awan said government wants to ensure uninterrupted gas supply to domestic consumers.

She said Cabinet directed Zarai Taraqiati Bank to provide loans to farmers on easy instalments for purchasing tractors on subsidized rates.

Finance Ministry briefed Cabinet on essential commodities prices. The prices of 18 items showed upward trend and 12 come down. Food inflation level has come down. On recent hike in petroleum products prices, she said it was due to rising trend in international market.

Cabinet approved two MoUs for cooperation with Qatar in energy and development of national highways, motorways in Pakistan. It also approved signing of MoU with Russian Federation on scientific cooperation.

It directed Interior and States & Frontier Regions Ministries to take immediate steps for repatriation of Afghan refugees to their homeland and ensure they are confined to designated I12 sector of Islamabad.

Prime Minister asked Interior Ministry to expedite work on establishing Madrassa Welfare Authority for introduction of uniform syllabus‚ foreign students registration and look into their funds.

It also directed Ministries of Interior‚ Law‚ States & Frontier Regions and Provincial Coordination ministries to finalize draft of National Counter Terrorism Authority bill for presentation in the parliament.

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