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Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has sanctioned over two billion rupees for several ministries, focusing on national food safety, salary payments, and operational needs. The meeting, chaired by Finance Minister Muhammad Aurangzeb, highlighted strategic financial decisions.
According to a statement by Ministry of Information and Broadcasting, the ECC approved a technical supplementary grant of 910 million rupees for establishing the National Food Safety, Animal, and Plant Health Regulatory Authority. This initiative aims to bolster regulatory frameworks for food safety and animal health.
The committee also authorized the Finance Division to release 935.78 million rupees in projected net salary payments for the Pakistan Steel Mills for the fiscal year 2024-25. This allocation will be part of a previously approved budgetary framework of 3.5 billion rupees.
In addition, the ECC allocated 90.275 million rupees to ensure the operational efficiency of the Pakistan Air Force and Pakistan International Airlines. To support the Frontier Corps’ operational requirements, a grant of 941.400 million rupees was also approved.
The ECC decided to extend duties on specific iron and steel flat products until March 31, 2025, as recommended by the Tariff Policy Board, while making clear that further extensions will not be granted.
For the Afghan Transit Trade through Gwadar Port, the ECC approved a shift from bank guarantees to insurance guarantees, specifically for the import of Di-Ammonium Phosphate under the Afghanistan-Pakistan Transit Trade Agreement. This move is intended to streamline trade processes between the two countries.
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