The Federal Cabinet has approved the signing of a Memorandum of Understanding between Pakistan and Sri Lanka for the issuance of a commemorative postal stamp to mark 75 years of diplomatic relations between the two countries.

The meeting of the Federal Cabinet was held in Islamabad today with Prime Minister Shehbaz Sharif in the chair.

A report from the Cabinet Committee established by the Ministry of Industries and Production regarding the export of sugar was presented in the meeting.

The Cabinet expressed satisfaction that a better decision by the Cabinet on sugar exports not only brought valuable foreign exchange to the country but also kept sugar prices under control and provided fair compensation to sugarcane growers for their efforts.

The Federal Cabinet approved directives for all government agencies to ensure that 50 percent of their imports, such as wheat, sugar, and fertilizer, are accessed through the Gwadar Port.

The Cabinet also directed that the percentage of exports through Gwadar Port should be increased in the future.

A sub-committee of the Cabinet will be formed to present a quarterly report on imports and exports through Gwadar Port.

On the recommendation of the Ministry of Maritime Affairs, the forum approved the reconstitution of the Board of Directors of the Korangi Fish Harbour Authority, Karachi.

The Cabinet directed that such government boards should include representation from all provinces.