ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved various allocations and grants during its recent meeting. Chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, the ECC endorsed the allocation of $8 million for severance packages and operational expenses of the Roosevelt Hotel. This decision follows the presentation of a summary by the Ministry of Aviation, allowing the utilization of the funds available with the National Bank of Pakistan for this purpose.
Additionally, the ECC granted approval to the Industries and Production Division’s request for the release of Rs. 2,159.53 million from the allocated budget to cover gas bills for Pakistan Steel Mill (PSM). The committee also deliberated on and approved proposals for Technical Supplementary Grants, including funds for various projects such as clearing liabilities of contractors for earthquake reconstruction, providing financial support to the families of deceased individuals, and facilitating IT exports through policy amendments.
Furthermore, allocations were sanctioned for development expenditures in the Power Division, financial support for the Pakistan Nuclear Regulatory Authority, and compensation packages for casualties at the DASU Hydropower Project. The ECC also endorsed rupee cover for hydropower projects and other relevant expenditures.
The meeting, attended by key officials including ministers and heads of relevant departments, aimed to streamline financial allocations and ensure efficient utilization of resources across various sectors.
