Islamabad, The Economic Coordination Committee (ECC) of the Cabinet, chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, approved several significant economic proposals to bolster Pakistan’s economic stability and growth.
According to Press Information Department, the meeting saw the presence of high-ranking officials, including ministers for Commerce, Petroleum, Privatization, Industries and Production, along with other senior government representatives. Key decisions included raising the wheat procurement target for PASSCO from 1.40 to 1.80 million metric tons and approving the import of 200,000 metric tons of Urea fertilizer to meet future demands. These measures aim to support ongoing agricultural activities and ensure the availability of essential fertilizers for the Kharif cropping season of 2024.
Additionally, the ECC addressed the financial needs of the Power Sector by sanctioning the release of substantial funds to clear arrears of tariff differential subsidy for Karachi Electric (KE) and Azad Jammu and Kashmir (AJK). It also approved funds for the Special Relief Package for daily wage workers at the Chaman border, demonstrating the government’s commitment to supporting vulnerable populations. The committee urged the Ministry of Industries and Production to devise a detailed plan for the future utilization of the Pakistan Steel Mills (PSM) assets, highlighting a forward-looking approach to managing national resources.