Federal Cabinet Ratifies Tax Exemptions on International Bonds

Prime minister Imran Khan chaired the meeting of the Federal Cabinet here today.

The Federal Cabinet approved tax exemptions to the Eurobonds under the Second Schedule of the Income Tax Ordinance 2001, international Sukuk transactions issued under the government’s medium-term notice, and on profits from panda bonds issued in the Chinese market.

The federal cabinet was informed that about 95 percent of the people who had lost their jobs were restored within a few months, due to the timely decision of the Prime Minister.

Minister for Planning and Development Asad Umer briefed the Cabinet on the impact of the Corona pandemic on the basis of a recent survey, conducted by the Pakistan Bureau of Statistics (PBS).


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The survey found out that the pandemic had almost wiped out the income of about 20 million people. The minister said that the wise strategies of the government, the policy of smart lockdown instead of complete lockdown, and decision making in the construction and manufacturing sector restored the income of 20 million people.

The Federal Cabinet was also given a detailed briefing on the steps taken in the last six months for Civil Service Reforms. The meeting was informed that these reforms are being made keeping in view the requirements of recent times, transparency, efficiency, and accountability.

Encouraging the steps taken to amend the Civil Service Reforms, the Prime Minister said that the Ministries and Divisions should take steps to improve the performance and facilitate Ease of Doing Business.

The Federal Cabinet approved the formation of the Board of Directors (BoD) of the National Transmission and Dispatch Company under the Power Division.

The meeting also approved the Ministry of National Health Services Regulations and Coordination to enter into a five-year contract directly with NADRA for verification of WGRM data on health facilities.

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