Federal Cabinet passes raft of mandatory technical standards of commodities and products

posted on 06/02/2012: 65 views

The federal Cabinet passed yesterday a raft of mandatory specifications (technical standards) for a group of commodities and products as part of the government efforts to protect consumer, deliver health and environment safety and keep abreast of international quality benchmarks of products in local market.

Chaired by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum at the Presidential Court, the cabinet approved 33 new technical standards for various foodstuff including fruits, vegetables, spices, agricultural genetically modified produce and canned kid's food. The technical standards also include additional specifications for shock-resistant vehicles to ensure safety of users.

The meeting, which was attended by HH Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, passed the estimated budget of the General Pension and Social Security Authority (GPSSA) for 2012 which estimated revenues of about Dh4 billion and payments and expenditures at about Dh2.3 billion with an expected net surplus of Dh1.7 billion. Estimated revenues for 2012 increased 4 per cent over 2011 at Dh106 million while estimated expenses rose 16 per cent at Dh300 million as a result of growing base of pensioners and the projected rise in benefits and compensations. Revenues on investment were forecast to grow more than 9 per cent at more than Dh70 million. Market value of the GPSSA investment is also expected to go up.

The cabinet also gave its nod for GCC companies to open branches in the UAE and achieve full equality between their branches and those of national counterparts. The move is in implementation of the GCC Supreme Council relevant resolution which aimed at bolstering economic integration among GCC member states and consolidating the UAE status as the most GCC member state complying with the GCC apex body resolutions.

A number of international conventions the UAE signed with other friendly countries were also approved. It also passed budget of the Emirates Investment Authority for fiscal year 2012. The cabinet discussed a host of topics on its agenda and took appropriate actions on them. - Emirates News Agency, WAM

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