Cabinet approves signing of MoU between Pak-China IP organizations

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APP59-03 ISLAMABAD: October 03 - Prime Minister Shahid Khaqan Abbasi chairs meeting of the Federal Cabinet at PM Office. APP

ISLAMABAD, Oct 3 (APP): The federal cabinet, which met
here Tuesday with Prime Minister Shahid Khaqan Abbasi in
chair, allowed the signing of a memorandum of understanding
(MoU) between the Intellectual Property Organization (IPO) of
Pakistan and State Intellectual Property Office (SIPO) of
China.
The enhanced cooperation between IPO-Pakistan and SIPO-
China would enable both the organizations to learn from each
other’s experiences.
IPO-Pakistan would also learn from China’s rich
experience in using the IP system in a balanced and flexible
manner that promotes national development and trade while
protecting IP rights, according to a press release issued by
the PM’s Media Office here.
The cabinet, in its meeting held here at the Prime
Minister’s Office, also ratified the Statute of the ECO
Regional Centre for Cooperation of the Anti-Corruption
Agencies and Ombudsmen (RCCACO).
It approved a proposal by Aviation Division to grant
exemption to Pakistan International Airlines Corporation
Limited (PIAC) from fee payable @ 0.1% to the Pakistan Stock
Exchange Limited (PSX) and supervisory fee payable @ 10% to
Securities and Exchange Commission of Pakistan of PSX fee on
issuance of additional shares.
Establishment of insurance tribunals at Lahore and Multan
was also approved.
The cabinet approved appointment of Air Marshal Ahmer
Shahzad as Chairman Pakistan Aeronautical Complex Board Kamra.
Extension in contract appointment of Omar Arshad
Hakeem, Judicial Member (BS-21) Customs Appellate Tribunal,
Bench II Lahore for a further period of two years was allowed
by the cabinet.
The cabinet approved a proposal of Law and Justice
Division for repatriation of Manoo Mal Khagaija, Judge
Banking Court-I Hyderabad, to Sindh High Court and appointment
of Syed Nasiruddin Shah, District and Sessions Judge, as Judge
Banking Court -I Hyderabad.
The cabinet ratified recommendations of the Cabinet
Committee for Disposal of Legislative Cases, which met on 22-09-
2017. Decisions taken by the Economic Coordination Committee of
the Cabinet in its meeting held on 14-09-2016 were also
ratified.
Proposal of Economic Affairs Division for signing of
Financial Cooperation Agreement (FCA) 2015 with Germany was
approved.
On agreement between the Government of the Russian
Federation and the Government of Pakistan on cooperation for
the construction of a 600 MW natural gas combined cycle power
plant at Jamshoro, the cabinet authorized Power Division to
negotiate the details of the draft framework agreement and bring
the agreed version before it.
It would also finalize the terms and conditions of the
loan in consultation with Economic Affairs Division and
Finance Division.
The cabinet approved a proposal of the Revenue Division to
amend the Convention of the Avoidance of Double Taxation
between Pakistan and Korea.
Amendment to the existing Convention between Pakistan
and Qatar for the avoidance of double taxation and Prevention
of Fiscal Evasion with respect to Taxes on Income for Updation
of Article on Exchange of Information were approved by the
cabinet.
Furthermore, the cabinet approved amending the existing
Convention between Pakistan and Canada for the Avoidance of
Double Taxation and Prevention of Fiscal Evasion with respect
to Taxes on Income for Updation of Article on Exchange of
Information.
It also approved amendment in SRO 1125(I)/2011 dated
31.12.2011 allowing reduction in rate of sales tax from 17% to
6% on ready to use imported finished articles of textile and
leather, in line with WTO regulations.
Amendment in Import Policy Order with regard to import
of beef was also approved. In order to clarify the said
commodity in Import Policy Order, the word MBM would be
incorporated after the word “meat and bone meal” in the said
Policy Order.