The Economic Coordination Committee (ECC) approved over Rs24 billion for the defence and interior ministries on Thursday. The decision came during a meeting chaired by Finance Minister Muhammad Aurangzeb in Islamabad. The approval was confirmed in a report by state-run Radio Pakistan. The ECC approves funds mainly for law and order and defence-related projects.
READ MORE:Typhoon Bualoi leaves 36 dead in Vietnam
According to the finance ministry, Rs20 billion will go to the interior ministry. The amount will be used for maintaining law and order. Funds will be released on demand and in phases, after consultation between the Finance Division and the Interior Division.
The committee also approved Rs4 billion as a technical supplementary grant (TSG) for land compensation related to the Defence Complex in Islamabad. The balance will be paid by the Capital Development Authority. This ensures payments to those who gave up land for the project.
Additionally, Rs174.8 million was allocated to the Frontier Corps in Khyber Pakhtunkhwa. The ECC also reviewed a proposal from the defence ministry for financial support to the Roosevelt Hotel in New York. Its lease agreement with the city recently expired, creating financial challenges.
READ MORE:Stocks gain 2,849 points to close at record high
The ECC further approved amendments to the Business-to-Business Barter Trade Mechanism. This will regulate bilateral trade with Afghanistan, Iran, and Russia. With these approvals, the ECC approves funds to strengthen law enforcement, support defence projects, and stabilize trade frameworks.