Islamabad: The Economic Coordination Committee (ECC) of the Cabinet convened today under the leadership of Finance Minister Senator Muhammad Aurangzeb to discuss and approve several key initiatives, including the Prime Minister’s Fuel Relief Scheme aimed at providing targeted assistance to lower-income groups amidst rising petroleum prices. The meeting, held at the Finance Division, also deliberated on matters related to the Pakistan National Shipping Corporation, refinery upgradation projects, and the export of surplus sugar.

According to Press Information Department, the ECC approved the Prime Minister’s Fuel Relief Scheme, which will offer financial relief to owners of two- and three-wheelers and small cars. The relief is set at Rs. 500 per week for two- and three-wheelers and Rs. 1,000 for ten days for cars up to 800cc. This relief is limited to non-commercial users and one vehicle per owner, with the Ministry of IT & Telecom managing the digital delivery through the Fuel Pass System (FPS). The scheme has been allocated Rs. 75 billion for its implementation.

The ECC also approved a framework for restructuring the Pakistan National Shipping Corporation and endorsed a draft agreement under the Pakistan Oil Refining Policy for the upgradation of existing refineries. Additionally, the ECC agreed on a mechanism to settle financial claims of Oil Marketing Companies through the Inland Freight Equalization Margin.

Further discussions included a deferred decision on standards for importing used vehicles and approval for exporting 200,000 metric tons of surplus sugar, ensuring domestic price stability. The ECC allocated Rs. 3 billion for purchasing bullet-proof vehicles for the Shanghai Cooperation Organisation’s upcoming summit in Islamabad, emphasizing the importance of secure transportation for visiting Heads of State.

The meeting was attended by several federal ministers and senior officials, reflecting the government’s comprehensive approach to addressing economic and logistical challenges.