January 07, 2025 (MLN): The Economic Coordination Committee (ECC) has approved a proposal for a Technical Supplementary Grant (TSG) of Rs2.46 billion from the Ministry of Information and Broadcasting.
This grant will facilitate the execution of 15 projects under the Public Sector Development Programme (PSDP) for FY 2024-25, according to the press release issued by Finance Division.
The Ministry of Information and Broadcasting also presented a proposal to clear outstanding liabilities for the “Korean Culture Week” event and the 23rd Shanghai Cooperation Organization’s (SCO) Council of Heads of Government (CHG) meeting held in 2024.
Due to insufficient budgetary allocations under operational heads, liabilities amounting to Rs25 million for the Korean Culture Week and Rs95.822mn for the SCO CHG meeting remain unpaid.
The ECC also sanctioned a TSG of Rs1.945bn in favor of the Ministry of Defence.
Further, the ECC approved a TSG of Rs5.276mn for the National Commission on the Status of Women (NCSW), which involves the reallocation of funds from the Ministry of Human Rights (MoHR).
This decision is aimed at supporting NCSW’s efforts in advancing gender equality and women’s empowerment in Pakistan.
The ECC approved the reallocation of Rs120.822mn as a TSG.
The Ministry of Federal Education and Professional Training presented a request for a TSG of Rs1.5bn.
The ECC also approved the funding intended to increase the salaries of faculty members under the Tenure Track System, which has not been revised since 2021.
Additionally, it approved a TSG of Rs650.357mn requested by the Ministry of Interior to cover security arrangements and maintain law and order during the SCO Summit 2024, repair safe city cameras damaged during violent protests, and address other law enforcement needs.
Additionally, the ECC approved a request from the Ministry of Interior to settle outstanding liabilities of $6.170mn (approximately Rs1.72bn) with Huawei Technologies Co. Ltd.
This payment is to clear the remaining 5% of the contract cost for the Safe City Project Islamabad, as directed by the Islamabad High Court.
The Ministry of Industries and Production proposed declaring the Warehousing and Logistics Sector as an industry.
The ECC reiterated its previous decision made on August 15, 2024 whereby the Summary containing proposal of declaring Warehousing as Industry was approved.
The ECC also reviewed a request from the Ministry of Industries and Production to continue the Prime Minister’s Relief Package through the Utility Stores Corporation (USC) in FY 2024-25.
The ECC approved Rs1.679bn to cover expenses incurred by USC between June 30 and August 18, 2024, on the condition that the subsidy was budgeted for this year, and no further expenditures would be carried beyond this period.
Finally, the Ministry of Commerce presented a proposal to ban the import of Polyol blended with HCFC-141b and HCFC-142b.
The ECC approved the ban, effective from the end of January 2025.
The committee also instructed the Ministry of Climate Change to consult with the Ministry of Industries and Production to ensure the latter has sufficient time to inform the relevant industry.
It was further directed that no new LCs for the banned chemicals shall be opened.
The meeting was chaired by Finance and Revenue Minister Senator Muhammad Aurangzeb.
In concluding remarks, Finance Minister Senator Muhammad Aurangzeb emphasized the importance of timely policy measures to address critical economic, energy, and industrial needs, with a focus on transparency and efficiency in implementation.
Copyright Mettis Link News
Posted on: 2025-01-07T10:41:32+05:00
