ISLAMABAD, July 10: The cabinet on Wednesday approved the restructuring of Pakistan Baitul Mal (PBM) and assigned it a major role in the poverty reduction programme and the social welfare sector.

The meeting presided over by President Gen Pervez Musharraf was of the view that the new approach of the PBM would help rehabilitate the deserving people instead of doling out money for their subsistence.

According to an official announcement, the PBM will continue to provide financial assistance to the needy.

The cabinet was informed that the PBM had undertaken a Food Support Programme under which 1.25 million households were being covered and the allocation was Rs2.5 billion per annum.

The PBM will launch a programme, Tawana Pakistan, with the total estimated cost of Rs3.5 billion to provide meal to 500,000 schoolgirls.

The PBM will be headed by secretary of women’s division as ex-officio chairman and the representation of the the provinces, AJK, Northern Areas and minorities will be ensured.

The meeting approved the Electronic Transaction Ordinance which stipulates the creation of a certification council to renew and grant accreditation to certify the electronic documents which can be presented as evidence in the court.

Under the ordinance, electronic records and digital signatures will have the backing of law and can be presented as evidence in addition to paper documents.

It will open up avenues for electronic filing of tax forms and customs documents.

The cabinet approved the Pakistan Merchant Shipping (Amendment) Ordinance, 2002, to monitor the rates charged from the port users by shipping companies and other providers of services at the ports.

An authority will suggest measures for fixation of fare rates for the services being provided by shipping companies.

The president extended his appreciation to the police and the law enforcement agencies for apprehending terrorists.

The commerce minister apprised the cabinet about his visit to Sri Lanka, Morocco and Turkey.