Islamabad:The Economic Coordination Committee (ECC) of the Cabinet has approved significant financing and sectoral development measures, including several Technical Supplementary Grants.
According to Radio Pakistan, the ECC meeting, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, considered 17 agenda items submitted by various Ministries and Divisions. These items focused on areas such as access to finance, infrastructure development, institutional reforms, and sectoral measures.
A key approval was given to a financing framework developed by the State Bank of Pakistan, designed to include Agency Financial Institutions under the Government's Risk Coverage Schemes for Small Enterprises and Small Farmers. This initiative aims to enhance access to finance through microfinance and non-banking financial institutions.
The ECC also sanctioned a 2.0 billion rupee Technical Supplementary Grant for the Small and Medium Enterprises Development Authority, supporting the implementation of its Business Plan aligned with the Prime Minister's vision. Additionally, 11.329 billion rupees were approved for the Utility Stores Corporation to address funding needs for its closure process.
An allocation of 8.0 billion rupees was approved for the Public Private Partnership Authority to assist in infrastructure projects development. Furthermore, 10.0 billion rupees were allocated to the Ministry of Railways for the Thar Coal Rail Connectivity Project, promoting the use of local Thar coal.
The ECC approved 596.18 million rupees for the Election Commission of Pakistan to manage funds for Local Government Elections and related activities. An additional 2.0 billion rupees was immediately released for non-sensitive materials procurement for elections in various regions.
Other approvals included 300 million rupees for the Capital Development Authority's maintenance needs, 150 million rupees for Pakistan's participation in an international environmental conference, and 934.481 million rupees for the Pakistan Sports Endowment Fund Scheme. A 1,666.176 million rupee grant was also approved for a training initiative for agricultural professionals in China.
Lastly, the ECC authorized 4.0 billion rupees for Pakistan Revenue Automation Limited to support the Federal Board of Revenue's restructuring and transformation efforts.