Federal cabinet ratifies defence cooperation agreement with Kuwait
The federal cabinet on Wednesday ratified a defence cooperation agreement between Pakistan and Kuwait, according to the Prime Minister's Office. It also approved new currency note designs and a Rs10 coin.
- Cabinet ratified the Pakistan-Kuwait defence cooperation agreement, concluded on June 11, 2023.
- Kuwait ratified the pact on July 19, the PMO said.
- Cabinet approved new banknote designs and a Rs10 coin to replace the Rs10 note.
- Powers delegated to the KP chief minister were transferred to the governor.
The federal cabinet, chaired by Prime Minister Shehbaz Sharif, on Wednesday ratified a defence cooperation agreement between Pakistan and Kuwait, according to a statement from the Prime Minister's Office (PMO).
The statement said the agreement was concluded on June 11, 2023, to foster cooperation in the defence sector between the two brotherly countries. The Kuwaiti government ratified it on July 19.
On the Finance Ministry's recommendation, the cabinet also approved new currency note designs. Proposals were sought from artists and designers across the country, and a cabinet committee formed by the prime minister consulted stakeholders. The new notes will have stronger anti-counterfeiting features and modern materials meant to extend their lifespan. The cabinet also approved a Rs10 coin to replace the Rs10 banknote.
The cabinet approved transferring powers delegated to the Khyber Pakhtunkhwa chief minister to the provincial governor, Faisal Karim Kundi. The federal government declared an emergency and governor's rule in the province on October 11. The governor will submit a monthly review report to the federal government on the use of the powers. The cabinet said it hoped the KP Advisory Council, led by Governor Kundi, would work for welfare, prosperity, peace and security in the province.
On regional affairs, Prime Minister Shehbaz Sharif said global oil prices had risen because of regional instability. He said: "Pakistan is playing its role as before in restoring peace in the region." He cited recent engagements with Tehran and other regional players, and the Makkah Joint Defence Agreement among Pakistan, Saudi Arabia and Türkiye.
Daily Pakistan reported that Field Marshal Asim Munir, with Interior Minister Mohsin Naqvi, visited Iran last month to mediate between Washington and Tehran. The military spokesman said last week that Pakistan remained cautiously optimistic about the mediation.
On fuel, the government had planned a Rs15 price rise on Friday, but Petroleum Minister Ali Pervaiz Malik asked refineries to absorb the cost from extra profits. The prime minister said: "We will not let a common man bear this burden." The fuel subsidy scheme launched in September will run until the end of December, with Rs28 billion spent so far, and the Intelligence Bureau is monitoring it.
Imported LPG will be auctioned in lots, with government profits used to subsidise LPG for citizens. Daily Pakistan reported that LPG supply has been disrupted by closed Iranian border crossings, with cylinders selling at twice the official rate in the open market. The government finalised a proposed Rs160 billion package for Khyber Pakhtunkhwa.
Background
khabr.pk reported on 5 November that the federal cabinet approved designs for new currency notes with added security features, and a Rs10 coin to replace the Rs10 banknote.
Why it matters for Pakistan
The agreement deepens defence ties with Kuwait, where many Pakistani workers live and work. The Rs10 coin will replace the Rs10 banknote in everyday cash use. The decision to have refineries absorb a planned Rs15 increase is aimed at shielding fuel consumers; khabr.pk recorded petrol at Rs362 per litre on 4 November. Households relying on LPG are affected by the reported supply disruption and open-market prices.
