ECC approves over Rs27bn financial support for key economic initiatives

February 17, 2025 (MLN): The Economic Coordination Committee (ECC) of the Cabinet has approved over Rs27 billion to ensure financial support for key initiatives.

The ECC, which met in Islamabad under the chairmanship of Finance Minister Muhammad Aurangzeb, approved a technical supplementary grant of Rs19bn for 133 schemes of the defunct Pakistan Public Works Department.

A grant of Rs5.36bn was also approved to execute development schemes under the SDGs achievement program with Rs4bn allocated for Sindh and Rs1bn for Khyber Pakhtunkhwa, according to the press release issued.

The approval was granted for an amount of Rs1.9bn in favor of NADRA to ensure the transition of 43 Citizen Facilitation Centers in Khyber Pakhtunkhwa.

Additionally, a grant of Rs500 million was approved for the procurement of life-saving medicines and vaccines.

Another Rs84mn was allocated for the purchase of two Hino Coaster mini-buses and three Toyota Hiace vans to replace the outdated official transport at the President's Secretariat.

Furthermore, the ECC approved Pakistan's membership in the New Development Bank, established by BRICS member countries.

The committee endorsed the purchase of 5,882 capital shares in the bank, amounting to $582mn, with $116mn as paid-in capital.

The forum allowed the transfer of shares of DISCOs in the name of the President of Pakistan and the incorporation of an International Joint Trading Company in Singapore by Pakistan State Oil (PSO) and the State Oil Company of Azerbaijan (SOCAR).

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