Pakistan inks free trade agreement with Gulf Cooperation Council

Pakistan has made a free trade agreement with the Gulf Cooperation Council (GCC) that will now support the country to stabilise its economy in the coming days.
This was announced by caretaker Trade Minister Gohar Ijaz along with other federal ministers in a media briefing after concluding the Apex Committee of the Special Investment Facilitation Council (SIFC) meeting on Wednesday.

According to the 24News HD TV channel, the Apex Committee meeting was presided over by Prime Minister Anwaarul Haq Kakar. The committee, comprising the Army Chief, the Provincial Chief Ministers, and the Federal Ministers, held a long and detailed meeting to discuss the action plan to get the country out of the economic crisis.
The Apex Committee meeting lasted for eight and a half hours and ended with a decision to make agreements for fulfilling the shortage of sui gas in this winter season.

The Apex Committee also decided to make agreements to meet the shortage of gas in the winter season.
The committee took the decision to speed up the process of privatization of important national institutions and the work on the Tapi Gas Pipeline project which aims to bring natural gas from Turkmenistan to Pakistan.
The committee approved various proposals to eliminate the fiscal deficit and decided to make contracts to meet the gas shortage in winter.
The committee also consulted on the interest in investment by friendly countries in Riko Diq, a strategic mineral-rich region to boost the country's economy.

Later, Federal Ministers Gohar Ejaz, Murtaza Solangi and Sarfraz Bugti addressed a press conference and briefed the media about the committee's decisions.
They said the committee took these decisions in the best interest of the country and its people, and that they would help boost the national economy, create jobs, and ensure energy security.
They said the committee also expressed its gratitude to friendly countries for their continued support and cooperation.

Caretaker Trade Minister Gohar Ejaz said that Saudi Arabia has played an important role in the free trade agreement with the Gulf Cooperation Council (GCC).
Caretaker Minister of Commerce Gohar Ejaz said that the GCC Forum was formed in 2009, which has 6 important countries of the Gulf and after 14 years, it signed a trade agreement with a country for the first time.
He said that there will be more stability in the economy of Pakistan in the coming days.
He said that the money sent by overseas Pakistanis was being transferred illegally, the illegal transfer of dollars has now stopped due to government measures.

The energy minister said that the electricity crackdown is ongoing, so far 16 billion rupees have been recovered.
The Energy Minister said that the energy requirements will be met in December as they have ordered two LNG cargoes for this winter.
He said that measures are being taken to control gas load shedding in winter.
He said that the process of privatization of PIA will be completed in a few months.

Caretaker Federal Interior Minister Sarfraz Bugti said that he condemns the firing incident at the Chaman border from Afghan forces. He said the Pakistani forces showed patience over the incident on the Afghan border.

Reporter: Awais Kiyani