Islamabad: The Economic Coordination Committee (ECC) of the Cabinet, under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has approved several significant financial allocations and policy adjustments. The committee sanctioned Technical Supplementary Grants (TSGs) for various ministries, including PKR 1.945 billion for the Ministry of Defence and Rs. 5.276 million for the National Commission on the Status of Women. Additionally, a TSG of PKR 2,462.302 million was approved for the Ministry of Information and Broadcasting to facilitate the execution of 15 projects under the Public Sector Development Programme for FY 2024-25.
According to Press Information Department, the ECC approved reallocation of Rs. 120.822 million to cover outstanding liabilities from the “Korean Culture Week” event and the 23rd Shanghai Cooperation Organization’s Council of Heads of Government meeting. The Ministry of Federal Education and Professional Training received approval for a TSG of Rs. 1.5 billion to enhance faculty salaries under the Tenure Track System. Furthermore, the Ministry of Interior’s request for Rs. 650.357 million to support security during the Shanghai Cooperation Organization Summit 2024 was approved, along with settling liabilities of US$ 6.170 million with Huawei Technologies Co. Ltd.
The ECC also confirmed its prior decision to declare the Warehousing and Logistics Sector as an industry and approved Rs. 1.679 billion for the Utility Stores Corporation under the Prime Minister’s Relief Package for FY 2024-25. Moreover, a proposal to ban the import of Polyol blended with HCFC-141b and HCFC-142b was accepted, with the ban effective from the end of January 2025. The Ministry of Climate Change was instructed to collaborate with the Ministry of Industries and Production to manage the transition smoothly.
In his concluding remarks, Finance Minister Aurangzeb highlighted the necessity of timely policy measures to tackle economic, energy, and industrial challenges, emphasizing the need for transparency and efficiency in the implementation process.