ISLAMABAD – The Economic Coordination Committee (ECC) approved several technical supplementary grants for different ministries during a meeting chaired by Finance Minister Muhammad Aurangzeb. These grants are part of the budget for the 2024–25 financial year.
The committee approved Rs 15.8 billion for the Ministry of Defence. Another Rs 6.3 crore was approved for rent payments for the Auditor General’s offices. It also cleared Rs 829.67 billion for domestic debt payments and Rs 1.77 trillion for foreign debt repayment.
Grants were also given to various security forces. Frontier Corps KP and Balochistan received Rs 1.76 billion. Islamabad Police got Rs 30 crore for pending dues. Rs 5.2 crore was approved for new investigation equipment for ICT Police. SUPARCO received Rs 5.5 billion, and Rs 11.79 crore was granted for the Petroleum Core House project.
Additionally, Rs 25.45 crore was set aside for officers’ allowances in Balochistan. Rs 19.8 crore was approved for the repair of Islamabad’s Executive Building. The ECC also approved a new natural gas pricing structure. Gas prices will increase by 10% on average for industries, the power sector, and bulk consumers.
To support agriculture, the ECC gave initial approval to a new risk coverage scheme for small farmers. The program will launch on August 14. It aims to include 750,000 farmers in the financial system over three years. The total expected loan value is Rs 300 billion. The government will cover Rs 37.5 billion in program costs.