ISLAMABAD: The federal cabinet on Wednesday allowed the State Bank of Pakistan (SBP) to receive shares of Zarai Taraqiati Bank Ltd (ZTBL) and House Building Finance Corporation Ltd (HBFCL) in settlement of loans outstanding against these two organisations.

The combined financial statements of the federation, all the provincial governments and the district authorities for the years 2010-11 to 2013-14 were also placed before the cabinet for perusal, according to an official handout issued by the Prime Minister Office.

The cabinet, which met under Prime Minister Shahid Khaqan Abbasi, also approved a proposal for issuance of 50,000 pieces of commemorative coins of Rs50 in honour of Dr Ruth Pfau, the German-born Pakistani physician who died in August, for her contribution in establishing 157 leprosy clinics across Pakistan that treated over 56,000 people.

Besides this, the cabinet approved a proposal to replace Faryal Jooma with Haq Nawaz as one of the members of the Board of Directors of the Pakistan International Airlines Corporation Ltd.

The cabinet approved the appointment of Muhammad Azam as director general Hydrocarbon Development Institute of Pakistan (HDIP) for a term of three years.

Proposals submitted by the Ministry of National Health Services, Regulations and Coordination regarding maximum retail prices of drugs were approved in principle.

A proposal of the Ministry of Education and Professional Training to sign a Memorandum of Understanding in the field of technical and vocational training between Pakistan and Algeria was also approved.

The cabinet approved the appointment of Rear Admiral Jamil Akhtar as chairman Karachi Port Trust (KPT) for a period of three years. It also approved appointment of Naeem Y. Zamindar as the chairman of Board of Investment (BoI).

Published in Dawn, November 9th, 2017