Approved summaries seeking Technology Up-gradation Cells (TSGs) worth 2,629 billion Pakistani Rupees across ministries and divisions by the Economic Coordination Committee (ECC)

PENNING DOWN THE APPROVED FUNDING: ECC OKs 14 SUMMARIES WORTH AROUND PKR 2.6 TRILLION

In an economic bustle, the Economic Coordination Committee (ECC) of the Pakistan Cabinet, under the chairmanship of Federal Minister for Finance and Revenue Muhammad Aurangzeb, endorsed 14 proposals seeking technical supplementary grants (TSGs) amounting to approximately PKR 2.629 trillion for numerous ministries and divisions. These funds will be utilized for ongoing projects and initiatives during the current fiscal year 2024-25.

The ECC meeting also green-lit a new natural gas pricing structure for the fiscal year 2025-26, allowing prices for bulk consumers, power plants, and industrial entities to increase by approximately 10%.

Taking a closer look, the Finance Division bagged TSGs worth PKR 829.67 billion and PKR 1,774.20 billion for domestic and foreign debt repayments respectively. The Ministry of Defense will receive PKR 15.84 billion TSG to cover army pay and offset employee-related expenditures.

Other significant allocations include:- PKR 100 million TSG to the Ministry of Foreign Affairs for expenses related to "Other Delegation Abroad."- PKR 1.765 billion TSG for the Ministry of Interior and Narcotics Control to meet operational expenses and clear pending liabilities of Frontier Corps units.- PKR 300 million TSG for the same Ministry to settle outstanding liabilities of ICT Police.- PKR 100 million TSG to cover outstanding liabilities of vendors providing services and supplies during law and order situations in ICT region.- PKR 52.241 million TSG for upgrading ICT police investigation equipment.- PKR 100 million TSG exclusively for the Frontier Corps in KP (North).

Additionally, the ECC approved PKR 5.5 billion TSG for the Strategic Plans Division as a rupee cover for Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), PKR 117.97 million TSG for Petroleum Division for a PSDP project, PKR 254.57 million TSG to the Finance Division for releasing funds to the Government of Balochistan, and PKR 198 million TSG for Ministry of Interior and Narcotics Control for repairing the Executive Building, Islamabad.

The Petroleum Division proposed a revised natural gas pricing structure for the fiscal year 2025-26, to come into effect from July 1, 2025. The meeting discussed a proposal by the Ministry of National Food Security and Research to import sugar for stabilizing the sugar market. A 10-member steering committee was formed to review the proposal.

The finance body also discussed changes in home remittance incentive schemes and planned a proper proposal presentation to the ECC by July 31st. They also gave in-principle approval for a risk coverage scheme for small farmers and under-served areas, with further refinements and added safeguards before the scheduled launch on August 14th, 2025.

Key ministers like Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Petroleum Ali Pervaiz Malik, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, and various senior officials from different ministries and divisions attended the meeting. Thus, the financial fireworks continue in Pakistan, shaping the future of its economic landscape.

The Finance Division received TSGs for both domestic and foreign debt repayments, amounting to PKR 829.67 billion and PKR 1,774.20 billion, respectively, indicating a significant value within the nation's financial portfolio.
The ECC approved a risk coverage scheme for small farmers and under-served areas, containing plans for further refinements and safeguards before its scheduled launch on August 14th, 2025, demonstrating a commitment to managing credit risk within the business sector.
The approval of TSGs worth PKR 1,765 billion for the Ministry of Interior and Narcotics Control aims to help meet operational expenses, clear pending liabilities of Frontier Corps units, and cover ICT Police outstanding liabilities, highlighting the importance of addressing liabilities within the finance of these institutions.
The Petroleum Division proposed a revised natural gas pricing structure for the fiscal year 2025-26, indicating an analysis of the nation's energy sector and the subsequent impact on various business entities reliant on natural gas.
The allocation of PKR 5.5 billion TSG to the Strategic Plans Division acts as a financial cushion for Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), emphasizing the importance of finance in supporting valuable research projects.

Approved summaries seeking Technology Up-gradation Cells (TSGs) worth 2,629 billion Pakistani Rupees across ministries and divisions by the Economic Coordination Committee (ECC)