ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved Rs44 billion in supplementary grants on Wednesday while projecting signs of macroeconomic stability. Finance Minister Muhammad Aurangzeb emphasized positive indicators such as a $944 million current account surplus, reduced inflation, and increased sales across key sectors.
The surplus, the highest in a decade, stemmed from a 35% surge in remittances, 33% growth in technology exports, and a 31% increase in Roshan Digital Account inflows. The minister highlighted improved business confidence, a 900-basis-point reduction in the policy rate, and the State Bank’s reserves rising to cover 2.6 months of imports.
Among the grants, Rs536 million was allocated to the Ministry of Information to promote economic achievements, while Rs523 million went to the Special Investment Facilitation Council (SIFC). The ECC also approved Rs10 billion for urea subsidies and Rs2 billion for the Digital Economy Enhancement Project.
Key initiatives included launching a Pension Fund, facilitating the Siah Dik Copper Project in Balochistan, and restructuring Pakistan Revenue Automation Ltd. The committee also allocated Rs14 billion to solarize agricultural tubewells, advancing energy efficiency in the sector.
In addition, Rs30 million seed money was approved to establish a pension fund under a Non-Banking Finance Company, aiming to improve financial sustainability.
The ECC further authorized agreements for the 7.07 MW Railii-II Hydro Power Project, ensuring compliance with regulatory standards and financial close. These measures reflect the government’s commitment to sustainable growth and fiscal discipline.
Story by Khaleeq Kiani
