ECC approves defense , food security, energy, economic and petroleum sector reforms.
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Web Desk
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The Economic Coordination Committee (ECC), chaired by Federal Finance Minister Senator Muhammad Aurangzeb, approved key decisions to strengthen national security, defence capabilities, food security, and petroleum sector reforms.
The committee sanctioned a technical supplementary grant (TSG) of Rs50 billion for approved Defence Services projects, aimed at enhancing internal security, border protection, and overall law and order.
Additionally, the ECC approved Rs100.3 million for maintenance and repair of Federal Civil Armed Forces (FCAs) equipment and Rs841.56 million for border control operations, internal security, and counter-terrorism efforts.
The ECC also reviewed a proposal from the Ministry of National Food Security & Research regarding the closure of PASSCO and the creation of a Special Purpose Vehicle (SPV). The Committee gave the green light for the establishment of the SPV to ensure an orderly wind-up of the organization.
Furthermore, the Committee approved a set of measures designed to encourage greater participation of foreign companies in Pakistan’s petroleum exploration sector, aiming to boost investment and development in the industry.
