ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Monday chaired a meeting of the Economic Coordination Committee (ECC) where several important decisions were approved. The ECC focused on various sectors, including healthcare, energy, and infrastructure, aiming to enhance economic development and address key challenges in these areas.
One of the major decisions made during the meeting was the approval of the Maximum Retail Prices of four new Cardiac Stents. This step is expected to benefit patients by ensuring affordable access to essential healthcare services.
The ECC also granted an additional free area of 15.88 square kilometers in the Soghri Exploration License, which will support exploration activities and contribute to the country’s energy sector.
Furthermore, the ECC approved a 6-month Extended Well Testing over the Qabul-2 St-1 discovery in the Khipro Exploration License. This move will enable a comprehensive assessment of the potential of the discovery and aid in the development of energy resources in the region.
In line with efforts to strengthen the financial sector, the ECC approved a substantial sum of TSG (Technical Supplementary Grant) of Rs. 13,200,000,000 in favor of the Pakistan Mortgage Refinance Company Limited (PMRCL). This amount, equivalent to US$ 50 million, will be obtained from the World Bank as the first tranche of a credit line of US$ 85 million. This initiative aims to support the mortgage sector and promote affordable housing for the population.
The ECC also approved a TSG of Rupee Cover worth Rs. 7,840 million against an amount of US$ 33.1 million for the World Bank-funded Financial Inclusion and Infrastructure Project (FIIP). This decision will contribute to enhancing financial inclusion and developing infrastructure in the country.
ECC approves TSG of Rs. 8.4 billion for Ministry of Foreign Affairs
In addition, the Ministry of Foreign Affairs received a TSG of Rs. 8.4 billion to support its operations and fulfill its responsibilities effectively. Another TSG of Rs. 5000 million was approved in favor of the Ministry of Housing and Works for the execution of development schemes in the erstwhile Federally Administered Tribal Areas (Ex-FATA).
The decisions made by the ECC reflect the government’s commitment to prioritizing key sectors for development and addressing pressing issues. These initiatives are expected to have a positive impact on the economy and contribute to the overall well-being of the country and its citizens.
