Federal Cabinet approves transfer of KP CM’s powers to Governor, endorses new currency designs

To ensure the smooth execution of administrative affairs and improve governance during the state of emergency in Khyber Pakhtunkhwa (KP) province, the federal cabinet has approved transferring the powers of the Chief Minister’s Office to the Governor of KP for handling day-to-day matters.

The meeting of the federal cabinet was chaired by Prime Minister Muhammad Shehbaz Sharif.

“The Governor will submit a monthly review report to the Federal Government regarding the exercise of these delegated powers. The cabinet welcomed the decision, expressing hope that the KP Advisory Council, under the Governor’s leadership, will make all out efforts to ensure public welfare, prosperity and the restoration of law and order in the province,” PM Office Media Wing, in a press release, said.

On the recommendation of the Ministry of Finance, the cabinet also approved the designs for a series of new currency notes.

During a detailed briefing, the cabinet was informed that designs were solicited from artists and designers nationwide, following extensive consultations with the stakeholders conducted by a cabinet committee formed by the prime minister.

The meeting was informed that the new notes would feature enhanced security features and advanced materials to curb counterfeiting while significantly improving the durability and lifespan of the currency.

Additionally, the cabinet approved the introduction of a 10-rupee coin to replace the existing 10-rupee bank note.

The federal cabinet formally endorsed the defense cooperation agreement between Pakistan and Kuwait.

Initially signed on June 11, 2023, to foster bilateral defense ties, the agreement was subsequently ratified by the Kuwaiti government on July 19.

The meeting endorsed the decisions taken by the Cabinet Committee on State-Owned Enterprises (CCOSOEs) during its meeting on October 26.

The decisions taken by the Cabinet Committee on Legislative Cases (CCLC) during its meetings held on January 22, February 26, August 5, 18, and 27, and September 11 and 22 were also ratified by the meeting.