Federal cabinet approves gas tariff hike

ISLAMABAD: The federal cabinet has approved hike in gas tariff proposed by the Economic Coordination Committee (ECC), Geo reported.

Prime Minister Imran Khan chaired the meeting that was briefed on the government's 100-day plan and formation of various task forces.

The ECC was taken into confidence regarding newly-launched Naya Pakistan Housing Programme which aims to build five million houses in five years.

The commit was briefed on acquiring land for the project as well as its economic outline.

A 10-point agenda focusing on the country's economic and political situation was discussed during the meeting, sources further said.

The sources also said that the cabinet accorded approval for formation of a special committee to draft a new arms policy.

Earlier, reports had suggested that Finance Minister Asad Umar will take cabinet members into confidence regarding negotiations with the International Monetary Fund (IMF).

A day earlier, PM Imran said Pakistan might not have to approach the IMF for loans. In a meeting with journalists, the prime minister expressed hope that the government will be able to fix economic issues soon with its policies. The government is also in contact with friendly countries for resolution of economic issues, he said.