Economic Coordination Committee Approves Funds for Key Sectors; Rs10 Billion Allocated for Thar Coal Rail Link Project
ISLAMABAD: The Cabinet’s Economic Coordination Committee (ECC), headed by Federal Minister for Finance Muhammad Aurangzeb, has approved of vital financial grants and budgetary allocations for several key sectors and development projects.
The ECC also endorsed more financial accessibility to small enterprises and farmers through microfinance and non-banking institutions and increased the range of the credit guarantee scheme for affordable housing to approve a further grant of Rs2 billion to the Small and Medium Enterprises Development Authority (SMEDA).
Utility Stores and Infrastructure: The Ministry of Finance said it had approved a grant of Rs11.329 billion for the winding up and closure process of the Utility Stores Corporation, and Rs8 billion for the Public-Private Partnership Authority (PPP) to finance infrastructure projects.
Energy and Transport Connectivity: A technical supplementary grant of Rs10 billion has been approved to the Ministry of Railways for the Thar Coal Rail Connectivity Project, which will help increase domestic coal shipping and enhance energy security.
Local Government Funding for Elections: The committee approved Rs596.1 million to finance local government elections in Islamabad, Sindh and Balochistan, and sanctioned immediate disbursement of Rs2 billion for elections of local governments in Punjab, KP and Islamabad and cantons.
Institutional and Institutional Grants: Rs300 million was approved for the Capital Development Authority (CDA) to repair the Prime Minister’s Office and Staff Colony, Rs150 million was approved for the participation of Pakistan in COP31 and Rs934.4 million was approved for the short-term training of 1000 agriculture professionals in China through the Pakistan Sports Endowment Fund. In addition, Rs4 billion has been allocated for Pakistan Revenue Automation Limited (PRAL) to facilitate the FBR’s Transformation Plan.
Deferred and Regulatory Decisions: Recovery of PASSCO dues from provinces deferred for further consultation; Approval of amendments to the SRO related to additional customs duties on locally-manufactured tyres and the minimum support price for tobacco crop for 2026 deferred for further consultation.