SBP allowed to acquire shares of ZTBL, HBFCL

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  • Govt approves issuance of commemorative coins of Rs 50 in honour of Dr Ruth Pfau
  • Govt appoints Rear Admiral Jamil Akhtar as KPT chairman, Naeem Zamindar as BoI head

ISLAMABAD: The federal cabinet on Wednesday allowed the State Bank of Pakistan to acquire shares of the Zarai Taraqiati Bank Limited (ZTBL) and the House Building Finance Company Limited (HBFCL).

The arrangement would settle the loans owed to the State Bank by ZTBL and HBFCL. Prime Minister Shahid Khaqan Abbasi chaired the meeting here at the PM’s Office. The combined financial statements of the federation, all provincial governments and district authorities for the years 2010-11 to 2013-14 were also placed before the cabinet for perusal.

The cabinet approved a proposal for issuance of 50,000 commemorative coins of Rs 50 in honor of Dr Ruth Pfau. The cabinet approved a proposal to replace Faryal Jooma with Haq Nawaz as one of the members of the board of directors of the Pakistan International Airlines (PIACL).

Appointment of Director Industrial and Commercial Relations (DICR) in Pakistan Ordinance Factories Board was also approved by the cabinet. The cabinet agreed to a proposal to appoint Nawaz Raza and Sarmad Ali as private members of the board of directors of the Associated Press of Pakistan Corporation.

Appointment of four officers of the Inland Revenue Service as accountant members in the Appellate Tribunal Inland Revenue was also approved. The cabinet approved the appointment of Muhammad Azam as the director general of the Hydrocarbon Development Institute of Pakistan (HDIP) for a term of three years.

Proposals submitted by the Ministry of National Health Services, Regulations & Coordination regarding maximum retail prices of drugs were approved in principle. Proposal of the Ministry of Education and Professional Training to sign a memorandum of understanding (MoU) in the field of technical and vocational training between Pakistan and Algeria was also approved.

The cabinet approved the appointment of Rear Admiral Jamil Akhtar, as chairman of the Karachi Port Trust (KPT) for a period of three years. The cabinet approved the appointment of Naeem Y Zamindar as the chairman of the Board of Investment.