Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has approved three export finance subsidy schemes aimed at enhancing the country’s exports and providing stronger support for exporters, especially small and medium enterprises. The decision was made during a meeting chaired by Minister for Finance and Revenue Senator Muhammad Aurangzeb.

According to Radio Pakistan, the approved measures include the enhancement of the EXIM-administered Export Finance Scheme, the introduction of a Long-Term Export Growth Financing Facility, and a performance-based rebate on incremental exports. These initiatives are designed to offer fixed low-rate financing and bolster the export and import sectors, with a particular focus on the inclusion of small and medium enterprises (SMEs).

The ECC has also mandated that a performance report be submitted every six months to evaluate the effectiveness of the schemes. In addition to the export finance schemes, the committee approved a Technical Supplementary Grant of four billion rupees to cover expenses related to international arbitration proceedings involving independent power plant developers and major utility shareholders.

Other decisions made by the ECC include the adjustment of pensioners from closed Generation Companies to their respective pension-disbursing Distribution Companies for continued payment of retirement benefits. The committee also declared the Pab reservoir in the Rehman-8 ST-3 well as a tight gas reservoir under the Tight Gas (Exploration and Production) Policy, 2011.

Further approvals included the budget estimates for the Employees’ Old-Age Benefits Institution for fiscal year 2025-26 and the revised estimates for fiscal year 2024-25, as well as a proposal for tariff setting for indigenous gas supplies to RLNG-based power plants on the SNGPL network during April, May, and June 2026.