Ministry of Defence
The Economic Coordination Committee (ECC) has approved a supplementary grant of Rs430 million for the Ministry of Defence, along with several other key financial allocations aimed at supporting various government initiatives and projects.
The ECC meeting, chaired by Federal Finance Minister Senator Muhammad Aurangzeb, focused on the distribution of critical funds to multiple sectors. One of the most significant approvals was a Rs2 billion supplementary grant for the Ministry of Information and Broadcasting.
A substantial portion of this allocation is designated to clear outstanding advertisement payments owed to various media houses, ensuring that financial dues are settled and the media industry remains financially stable.
Another important decision taken by the ECC was the approval of funds for Special Assistance Programs (SAP) in Punjab. These programs are expected to support provincial development projects, addressing key infrastructural and social welfare needs.
Additionally, the committee sanctioned Rs250 million for the establishment of the Jinnah Medical Complex & Research Centre. This investment is part of the government’s broader initiative to enhance healthcare infrastructure in the country.
Moreover, the ECC greenlit government investment in a state-of-the-art 1,000-bed modern medical facility. This project aims to improve access to quality healthcare services and address the increasing demand for medical treatment in Pakistan. The new facility will contribute to easing the burden on existing hospitals and provide advanced healthcare services to the public.
In another significant decision, the committee approved a payment of Rs24.556 million to an Australian company in compliance with Supreme Court orders. The settlement ensures that Pakistan meets its legal and contractual obligations, preventing any further legal complications.
Additionally, the ECC decided to gradually phase out the State Bank of Pakistan’s Long-Term Financing Facility (LTFF), a financial instrument designed to support long-term industrial growth. The committee approved the transfer of the Rs330 billion LTFF portfolio to EXIM Bank, ensuring that the financial support for businesses continues under a new framework.
Furthermore, a supplementary grant of Rs1 billion was approved to address other financial requirements across different sectors. These approvals reflect the government’s commitment to addressing economic and administrative challenges while ensuring financial resources are allocated to critical areas.
The ECC’s decisions in this session highlight the government’s strategic approach to managing national finances, balancing defence expenditures, media payments, healthcare investments, and economic reforms.
