Islamabad, The Economic Coordination Committee (ECC) of the Cabinet, chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb, convened today at the Finance Division to deliberate and approve several critical financial measures, including substantial technical supplementary grants and policy amendments to facilitate IT exports.
According to Press Information Department, the ECC approved a range of financial allocations, including the use of $8 million from the National Bank of Pakistan for the Roosevelt Hotel’s severance and operational costs, and Rs. 2,159.53 million for gas bills at Pakistan Steel Mill, both aimed at addressing immediate financial concerns of these entities. The meeting, attended by key ministers and senior officials, also approved amendments in policies governing equity investments abroad to boost IT exports.
Further, the ECC sanctioned Technical Supplementary Grants across various sectors: Rs. 1,027.378 million to the Earthquake Reconstruction and Rehabilitation Authority for settling contractors’ liabilities, and funds to the Ministry of Interior for compensations and project support. The Ministry of National Health Services received a significant grant for the Federal Directorate of Immunization, among other allocations, highlighting the government’s focus on health and infrastructure development. Additionally, substantial funds were allocated for the development of hydropower projects and compensations related to the DASU Hydropower Project.