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Prime Minister Raja Pervez Ashraf. — Photo by AFP

ISLAMABAD: The federal cabinet approved on Wednesday the Investment Policy, 2013, and Foreign Direct Investment Strategy, 2013-17.

The focus of the investment policy is on reducing the cost and processes of doing business to enhance Pakistan’s competitiveness.

It proposes liberalisation of economy with emphasis on investors’ facilitation, investment protection, removing regulatory impediments, public-private partnership and coordination between stakeholders.

The cabinet approved an amendment to Section 82 of the PPC to raise the minimum age of criminal responsibility from seven to 12 years. The bill excludes children involved in terrorist activities.

In his opening remarks at the cabinet meeting, Prime Minister Raja Pervez Ashraf expressed sorrow over the recent attack on a Christian colony in Lahore.

He said Christians were equal citizens of the land and must be given complete protection.

He assured the Christian community that the loss of property would be compensated jointly by the federal and provincial governments and the culprits responsible for this inhuman act would get exemplary punishment.

The prime minister said it is an important day because the democratic government was completing its tenure.

He praised the provincial governments, civil servants, armed forces and security agencies for extending full cooperation in serving the country and its people over the past five years.

“The PPP-led government has been working on multiple fronts to achieve energy security for the country. The start of work on Pakistan-Iran gas pipeline project is a major step in this direction,” he observed.

LNG IMPORT: The cabinet approved a proposal to start negotiations for the import of LNG from Qatar under government-to-government arrangements.

It approved the signing of a memorandum of understanding between the National Records and Archives Authority of Oman and the National Archives of Pakistan for cooperation.

It approved initiation of negotiations for an agreement with Iran and an MoU between the Financial Monitoring Unit of Pakistan and Financial Intelligence Unit of Iran.—APP