Federal cabinet approves negotiations on ML-1 financial agreement

ISLAMABAD: The federal cabinet on Friday okayed starting negotiations on the Financial Commitment Agreement between China and Pakistan Railways for the upgradation of the ML-1 project, a vital part of the China-Pakistan Economic Corridor (CPEC).

The cabinet meeting, chaired by Prime Minister (PM) Shehbaz Sharif directed that the final agreement on ML-1 be brought back to it for approval.

The prime minister gave the cabinet a briefing on his recent visit to Quetta, outlining continuing initiatives to bolster Balochstan’s law enforcement authorities’ capabilities, including the police and levies.

PM Shehbaz said that the entire country is dedicated to ending terrorism and leading by example by taking decisive action against terrorists. He also commended the provincial government of Balochistan for its admirable attempts to bring Baloch youth into the mainstream of the country, with the goal of fostering their growth and prosperity.

The prime minister stated that the federal government will fully support the Balochistan government in offering world-class education and equal development opportunities to Baloch youth.

PM Shehbaz categorically stated that no talks will be held with terrorists and those creating obstacles in the development process will be crushed with full might.

The prime minister said officers and the personnel of the armed forces are chasing the terrorists with the federal government’s support. He assured that the federal government would extend support for capacity building of the Levies force.

He said during the visit, he also interacted with the family members of the martyrs and they were in high morale despite losing their dear ones.

Speaking on the economic situation of the country, PM Shehbaz said the announcement of the global rating agency Moody’s about Pakistan’s economic outlook reflects that the country’s economy is moving towards upward trajectory.

He said China is the best friend of Pakistan and CPEC has opened new avenues of development and prosperity in Pakistan. He said the Federal government would implement the proposals put forward by the provincial political leaders.

The prime minister said the Federal government will soon unveil its five-year home-grown economic revival plan to enhance exports, strengthen agriculture and industry as well as uplift of youth and impart vocational training. Meanwhile, the Cabinet also approved the decisions made by the Economic Coordination Committee on August 29, 2024.

Earlier on August 27, the federal cabinet approved Rs20 billion for the Operation Azm-e-Istehkam

Pakistan announced the Operation Azm-e-Istehkam in June 2024, a comprehensive counter-insurgency effort to eradicate extremism and terrorism through military action and socio-economic development, with a focus on regional cooperation and stability.

In order to execute the Operation Azm-e-Istehkam the government allocated the funds. The operation has been subject to disagreements from different walks of life in Pakistan.

Additionally, the cabinet sanctioned PKR 1.951 billion for the security of the Reko Diq project.