The Economic Coordination Committee approved several major financial packages focused on national security, food management and petroleum sector reforms during its latest meeting. The decisions highlight a renewed effort to stabilise key sectors and support defence operations across the country.
Significant Allocations for Defence and Security
During the session, the Committee authorised a Technical Supplementary Grant of Rs100.3 million for repairing and maintaining defence equipment used by the Federal Civil Armed Forces. The approval aims to ensure that essential equipment remains functional for ongoing security operations.
Moreover, the ECC cleared an additional Rs841.56 million to support border management, internal security tasks and other law-and-order duties. These allocations will strengthen the operational capacity of forces deployed in sensitive regions.
A major portion of the meeting focused on national defence, as the Committee endorsed a substantial Rs50 billion grant for approved projects under the Defence Division. This funding will support priority-based initiatives that seek to enhance defence preparedness.
Major Step Toward Restructuring Food Security Operations
The ECC also approved a proposal to wind up PASSCO and create a Special Purpose Vehicle to manage its structured transition. The new entity will begin operations with a paid-up capital of Rs1 million. The authorised capital will be reduced in line with the requirements of the transition plan.
This move aims to streamline food management functions and improve the efficiency of national grain storage operations. Although the change marks a major shift, the Committee emphasised continuity in essential food security responsibilities.
Key Petroleum Sector Decisions to Encourage Foreign Participation
The Committee endorsed several proposals related to the petroleum sector as well. It approved extensions in licence periods for offshore exploration blocks. It also supported assignments of working interests among companies involved in exploration activities.
These changes aim to attract stronger engagement from foreign firms. As a result, Pakistan hopes to boost investment in offshore exploration while improving long-term energy security. The decisions also reflect a broader push to modernise the regulatory structure of the petroleum sector.
Senior Leadership Attends High-Level Meeting
The meeting included federal ministers and senior officials from key departments. Their participation underscored the importance of the financial decisions and the need for coordinated implementation across various sectors.
