The federal cabinet on Wednesday ratified the defence cooperation agreement between Pakistan and Kuwait, according to a handout by the Prime Minister’s Office (PMO).

“The federal cabinet ratified a defence cooperation agreement between Pakistan and Kuwait. This agreement, which aims to foster cooperation in the defence sector between the two brotherly nations, was concluded on June 11, 2023. The Kuwaiti government had ratified the agreement on July 19,” the handout said.

In 2023, Pakistan and Kuwait signed a defence pact to further strengthen defe­nce cooperation and institutional linkages between the armed forces of the two countries.

The statement also said that the cabinet approved the transfer of powers delegated to the Khyber Pakhtunkhwa chief minister to the province’s governor. The Centre declared an emergency and governor’s rule in the province on Oct 11.

It said the powers included “the conduct of day-to-day affairs during the period of emergency in the province, to facilitate the smooth handling of administrative matters in KP and further improve governance”.

“The KP governor will submit a review report to the federal government every month regarding the exercise of all such powers,” the statement said.

It stated that the federal cabinet welcomed the decision and expressed the hope that the KP Advisory Council, under the leadership of the Governor Faisal Karim Kundi, would make full efforts for the welfare and prosperity of the people of the province and for establishing peace and security.

Moreover, the federal cabinet, on the recommendation of the Ministry of Finance, approved the design of new currency notes, the statement added.

“The cabinet was given a detailed briefing on the new currency notes. The briefing stated that proposals were solicited from artists and designers across the country for the design of the new currency notes and a cabinet committee established by the prime minister conducted detailed consultations on it with all stakeholders,” the handout said.

According to the statement, the meeting was informed that, along with enhancing security features to prevent counterfeit notes, modern materials would be used, which would also extend the lifespan of the notes.

The federal cabinet also approved the introduction of a Rs10 coin in place of the Rs10 banknote, the PMO statement said.

‘Pakistan continuing efforts for peace in Middle East’

Addressing the federal cabinet during televised remarks, Prime Minister Shehbaz Sharif noted that global oil prices had “skyrocketed” due to the instability in the region.

“Pakistan is playing its role as before in restoring peace in the region,” he said, recalling Pakistan’s recent engagements with Tehran and other regional actors in the matter, as well as engagements under the Makkah Joint Defence Agreement between Pakistan, Saudi Arabia and Turkiye.

Last month, Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir, accompanied by Interior Minister Mohsin Naqvi, visited Iran as part of Pakistan’s efforts to mediate between Washington and Tehran.

In another meeting in October, held under the Makkah Joint Defence Agreement, CDF Munir, the Saudi defence minister, and the Turkish spymaster met top Iranian officials in Tehran. Last week, the military’s spokesman said Pakistan remained “cautiously optimistic” about its mediation between the US and Iran.

On Tuesday, PM Shehbaz also recalled that the government had planned to hike fuel prices by Rs15 on Friday.

“Petroleum Minister Ali Pervaiz Malik [..] talked to the refineries to bear the burden in their windfall profits. We will not let a common man bear this burden,” he added.

Speaking about the fuel subsidy scheme, launched in September, the premier said it would run till the end of December.

“Rs28 billion has been spent so far,” he said, adding that the scheme was running “successfully and transparently” and that the Intelligence Bureau (IB) continued to monitor it.

On liquefied petroleum gas (LPG), the prime minister said that the “era of mafiaa” was over and it was now being arranged transparently.

“Now when LPG is imported, competition will be promoted and it will be auctioned in lots. The government will take the profits and subsidise it for the common man,” he said.

He also stressed that the federal government was holding meetings “day and night” to meet LPG, liquefied natural gas (LNG), petrol and gas requirements ahead of winter despite challenges arising from the closure of maritime routes.

LPG supply has been disrupted in the country due to the closure of Iranian border crossings, resulting in gas cylinders being sold at twice the official rate in the open market.

PM Shehbaz also said that the federal government had finalised a proposed Rs160bn package for Khyber Pakhtunkhwa.

“Security is our number one, two and three priority in KP,” the premier remarked. He further noted that counterterrorism efforts continued in the region.

With the efforts of law enforcement agencies, the new government in KP and the support of the federal government, we will crush terrorism,” he said.