The Economic Coordination Committee (ECC) of the Cabinet, led by Finance Minister Senator Muhammad Aurangzeb, convened to address pressing financial obligations. Key ministers, federal secretaries, and senior officials attended the meeting. The agenda included funding allocations for critical sectors such as media, defense, healthcare, and financial restructuring, ensuring the smooth execution of essential projects.
Rs. 2 Billion for Media Advertisement Dues
A major decision was the approval of a Rs. 2 billion grant for the Ministry of Information and Broadcasting. This allocation, drawn from the ministry’s Rs. 5.6 billion budget, aims to clear long-standing advertisement dues owed to media houses. The move is expected to alleviate financial strain on media organizations and strengthen government-media relations.
Defense Ministry Receives Rs. 430 Million
The ECC also sanctioned Rs. 430 million for the Ministry of Defense. These funds are earmarked for the execution of SAP schemes in Punjab during the current financial year. The allocation underscores the government’s commitment to supporting defense-related projects and ensuring their timely completion.
Rs. 250 Million for Jinnah Medical Complex
In the healthcare sector, the ECC approved Rs. 250 million as Government Paid-Up Capital for Jinnah Medical Complex & Research Centre (JMC&RC). The facility aims to establish a 1,000-bed academic medical center in Islamabad. However, the ECC directed JMC&RC to submit a detailed expenditure breakdown before seeking additional funds, ensuring transparency and accountability.
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Financial Restructuring Support
To facilitate financial restructuring, the ECC approved a Rs. 1.001 billion grant. This funding will aid the phasing out of the State Bank of Pakistan’s (SBP) Long-Term Financing Facility (LTFF) to Exim Bank. The transition will enable Exim Bank to take over SBP’s Rs. 330 billion LTFF portfolio, ensuring continued support for long-term projects.
Compliance with Supreme Court Order
The ECC also approved a payment of Rs. 24.556 million (USD 87,671.21) to Mrs. Lia Bomba of JAED Textile Pvt Ltd, Sydney, Australia. This decision complies with a Supreme Court order issued on March 19, 2025, highlighting the government’s commitment to upholding judicial directives and resolving legal obligations promptly.
Focus on Critical Sectors
The ECC’s decisions reflect a strategic focus on critical sectors, including media, defense, healthcare, and financial restructuring. By addressing long-pending liabilities and funding essential projects, the government aims to foster economic stability and growth. The approvals demonstrate a proactive approach to resolving financial challenges and supporting national development.
Transparency and Accountability
The ECC emphasized transparency and accountability in its funding decisions. For instance, JMC&RC was directed to provide a detailed expenditure breakdown before receiving further funds. This approach ensures that allocated resources are utilized efficiently and effectively, minimizing the risk of mismanagement or misuse.
Strengthening Government-Media Relations
The Rs. 2 billion grant for media advertisement dues is a significant step toward strengthening government-media relations. By clearing outstanding payments, the government aims to build trust and collaboration with media houses, ensuring their continued role in informing and engaging the public.
Conclusion
The ECC’s recent approvals highlight the government’s commitment to addressing financial obligations and supporting critical projects. From media dues to healthcare and defense funding, these decisions aim to foster economic stability and growth. By prioritizing transparency and accountability, the ECC ensures that allocated resources are used effectively, paving the way for sustainable development and progress.