ISLAMABAD: Cabinet approved winding down of SME Bank on recommendation of State Bank of Pakistan while instructing to ensure protection of consumers’ deposits.

Prime Minister Shehbaz Sharif, chairing meeting instructed that protection of customers’ deposits should be ensured during winding down process. It was decided that all of bank customers would be paid Rs 5.557 billion, in first phase. Cabinet also approved Lawyers Protection Bill 2023 for its onward tabling before Parliament. PM said that lawyers had played key role in constitutional evolution of Pakistan.

He said approval for support price of Rs 8,500 per 40 kilograms of cotton has also been granted to make crop profitable for growers. On Finance Ministry’s recommendation, Cabinet granted ex-post facto approval to 15 bilateral and two multilateral MoUs of Securities and Exchange Commission of Pakistan with different countries and international institutions.

Cabinet approved constitution of an inquiry committee under Additional Deputy Commissioner for extradition of Muhammad Waseem son of Muhammad Aslam to Saudi Arabia under Extradition Act 1972. Muhammad Waseem Aslam is wanted by Saudi government in murder case. An agreement for extradition of criminals between Pakistan and Saudi Arabia already existed.

Body approved reconstitution of Pakistan Sikh Gurdwara Parbadhak Committee, on recommendation of Ministry of Religious Affairs and Interfaith Harmony. 13-member committee would consist of Sikh community representatives from all provinces.

Published in The Daily National Courier, March, 18 2023

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