ECC Approves Key Economic Measures

The Economic Coordination Committee (ECC) of the federal cabinet has given the green light to several significant economic initiatives. These include the development of an industrial zone on Pakistan Steel Mills (PSM) property, the elimination of health quarantine mandates for leather exports, and substantial supplementary grants to support climate and media programs.

The assembly was presided over by Finance Minister Senator Muhammad Aurangzeb, with key figures such as Minister for Power Sardar Awais Ahmed Khan Leghari and Minister for Commerce Jam Kamal Khan, along with federal secretaries and high-ranking officials, in attendance.

Leather Export Facilitation

The ECC has sanctioned the removal of Health Quarantine Certificates for both importing and exporting leather products. This decision is designed to assist the leather sector and bolster its competitive edge in international markets.

Climate Change Initiatives

A Technical Supplementary Grant has been approved for the Ministry of Climate Change and Environmental Coordination for the fiscal year 2025-26. This financial support will facilitate Pakistan’s involvement in the 30th Session of the Conference of the Parties (COP-30) in Brazil later this year, as part of broader efforts to improve environmental safeguards and climate resilience.

PTV Upgrade

The committee has allocated Rs 2.829 billion for Pakistan Television Corporation (PTVC) to modernize its English news channel. The goal is to enhance broadcast quality and expand its reach to audiences worldwide. The ECC has instructed the Ministry of Information to develop a thorough business strategy to ensure the channel’s financial independence and reduce its reliance on government funding.

Industrial Development on PSM Land

In a significant move for industrial expansion, the ECC has approved the establishment of an industrial area on PSM land in Karachi. This project aims to stimulate industrial activity, create employment opportunities, and attract further investment.

Aurangzeb stressed the importance of prompt implementation of the approved measures to realize their intended economic and societal benefits.