Islamabad: The Economic Coordination Committee (ECC) of the Cabinet convened under the leadership of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to deliberate on 11 agenda items from various Ministries and Divisions.
According to Press Information Department, the ECC approved several Technical Supplementary Grants (TSGs) for the Defence Division, including Rs. 54 billion for ongoing Defence Services projects, Rs. 1.094 billion for the acquisition of a Lineage L-1000 aircraft, and Rs. 29.139 billion for Project Istaqlal. These approvals are designed to address operational needs and support national security priorities. Additionally, the Interior and Narcotics Control Division received approval for a TSG of Rs. 3.71 million for maintaining Frontier Corps Balochistan (North) helicopters.
The ECC endorsed a revision in the tiers and bank rate of the Prime Minister’s Youth Business and Agriculture Loan Scheme to enhance access to affordable financing and encourage youth entrepreneurship. It also sanctioned the transfer of Rs. 15.625 billion in savings from austerity measures to the Prime Minister’s Austerity Fund 2026, underscoring a commitment to fiscal discipline.
A TSG of Rs. 275 billion was allocated for critical water sector projects, supporting the Ministry of Water Resources in advancing key infrastructure developments. Restrictions on importing camera-enabled smart glasses were approved, with a recommendation for local governments to establish workplace regulations for these devices.
Gas supply continuation to urea manufacturers FatimaFert and Agritech was approved until December 31, 2026, contingent on energy availability. The ECC also sanctioned relaxation in Exploration and Production Rules for extending and renewing 89 petroleum rights under certain conditions.
The Committee granted a TSG of Rs. 1 billion for village gasification within a five-kilometre radius of producing fields, aiming to improve natural gas access in these communities during FY 2026-27. The meeting was attended by notable officials, including Federal Ministers for Power and Petroleum, the Minister of State for Finance, and the Chairman of the Prime Minister’s Youth Programme.