ISLAMABAD: The federal cabinet held a meeting under the chairmanship of Prime Minister Nawaz Sharif on Friday with the premier taking the ministers into confidence of decisions taken during yesterday’s meeting of the Cabinet Committee on National Security, DawnNews reported.

During today's meeting, Federal Minister for Finance Ishaq Dar gave a briefing over the economic situation of the country.

The cabinet meeting also approved a policy for the import of Liquefied Natural Gas (LNG) and a LNG terminal would be constructed in Karachi in accordance with the project.

Signing of a Memorandum of Understanding (MoU) for the import of electricity from Iran was also approved by the Cabinet.

The MoU between the countries would be signed by premier Sharif during his visit to Iran.Pakistan would import 3,000 MegaWatts of electricity from Iran according to a draft of the MoU.

Moreover, Federal Interior Minister Chaudhry Nisar Ali Khan briefed the cabinet over the law and order situation of the country.

The future of talks with the Tehreek-i-Taliban Pakistan (TTP) was also discussed during the meeting, DawnNews quoted sources as saying.

The ministers also reviewed the country’s security and overall economic situation, along with the premier briefing them on his recent meeting with former president Asif Ali Zardari.

While addressing the meeting, Sharif said that $1.6 billion would be spent on the construction of an airport and a seaport in Gwadar.

He added that a heavy amount would also be spent on education, health, infrastructure and training of youth in Balochistan.

The prime minister also said that taxes collected from the public were the nation’s trust.

Moreover, the federal cabinet also delayed the Right to Information bill and decided to consult the opposition over the matter.

Peace talks with TTP

The meeting of the federal cabinet comes a day after the CCNS, which comprises of the country’s civil and military leadership, decided to continue seeking opportunities for peace with the TTP.

Thursday’s meeting, presided over by Prime Minister Sharif, originally convened to dispel a perception of a civil-military discord, was dominated by discussions on a decision of the TTP of not extending the 40-day ceasefire, which had expired on April 10.

Following intense discussions, it was decided to give peace another chance.