The Economic Coordination Committee (ECC) of the Cabinet on Friday approved a technical supplementary grant of Rs. 430 million on the request of the Ministry of Defense for the execution of Sustainable Development Goals Achievement Program schemes in Punjab.
Chaired by Finance Minister Muhammad Aurangzeb, the meeting was attended by Power Minister Sardar Awais Ahmed Khan Leghari; Petroleum Minister Ali Parvez Malik; Federal Minister for Board of Investment Qaiser Ahmed Sheikh, as well as the SECP chairman, federal secretaries, and senior officials from relevant ministries and divisions.
During the meeting, the ECC considered and approved a summary from the Ministry of Information and Broadcasting, for a technical supplementary grant of Rs. 2 billion from its allocated budget of Rs. 5.6 billion. This sum would meet the liabilities of payments for outstanding advertisement dues owed to media houses.
The ECC further approved Rs. 250 million as Government Paid-Up Capital for the operations of the Jinnah Medical Complex and Research Center Company to support the establishment of a state-of-the-art 1,000-bed academic medical center in Islamabad. The ECC directed the company to submit a detailed breakdown of the expenditures and activities covered by the approved sum before seeking further allocations.
Additionally, the ECC discussed a summary of the Finance Division regarding the phasing out of the State Bank of Pakistan’s long-term financing facility to Exim Bank. The ECC decided that the portfolio of Rs. 330 billion would be phased out to the Exim Bank, with an allocation of Rs. 1.001 billion through a technical supplementary grant to meet the subsidy requirement for the new portfolio for FY2025.
The ECC also approved a summary from the Finance Division for a technical supplementary grant of Rs. 24.556 million to Mrs. Lia Bomba of JAED Textile Pvt. Ltd., Sydney, Australia, in compliance with specific instructions of the Supreme Court, dated March 19.