Karachi, The Economic Coordination Committee (ECC) of Pakistan has directed the National Price Monitoring Committee (NPMC) to maintain ongoing coordination with provincial governments to ensure price stability and prevent hoarding and profiteering. This directive came during an ECC meeting in Islamabad, chaired by Finance Minister Dr. Shamshad Akhtar.

According to Ministry of Information and Broadcasting, the Pakistan Bureau of Statistics provided a briefing on the current inflation situation and the price trends of various essential commodities. The ECC’s directive is part of its broader efforts to address the economic challenges facing the country, particularly in terms of managing inflation and ensuring the availability of essential goods at stable prices.

Additionally, the ECC reviewed a summary from the Ministry of Overseas Pakistanis and Human Resource Development regarding the approval of the budget for the Employee Old Age Institution (EOBI). The forum commended EOBI for its performance and instructed it to strictly adhere to the budget calendar. It also directed the preparation of a long-term plan to address the institution’s pension liabilities, which amount to two trillion rupees. The ECC subsequently approved the proposed budget for EOBI.

The meeting also included a detailed discussion on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project, which was considered as a Qualified Investment Incentive Package. Recognizing the importance of this regional project, the ECC underscored the need for its prompt launch.

Furthermore, a summary from the Power Division regarding the settlement of capacity deduction issues for imported coal-based projects was reviewed, particularly concerning the Port Qasim Electric Power Company (PQEPCL). Following a detailed discussion, the ECC approved the settlement proposal as put forth by the Power Division.

In a related development, the Cabinet Committee on State Owned Enterprises convened and approved the publication of a consolidated report of the State-Owned Enterprises for the fiscal years 2019-2020, 2020-2021, and 2021-2022. This decision reflects the government’s commitment to transparency and accountability in the management of state-owned entities.

These actions by the ECC demonstrate a proactive approach to addressing key economic issues in Pakistan, ranging from inflation control to the advancement of significant infrastructure projects.