ISLAMBAD, March 21: ECC approved Rs 5.6 bln for ads payments due towards Ministry of Information and also nodded approval for a brand new 1000 bed hospital in Islamabad.
The Economic Coordination Committee (ECC) of the Cabinet convened today under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
The meeting was attended by key ministers, including Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Petroleum Mr. Ali Parvez Malik, Federal Minister for Board of Investment Qaiser Ahmed Sheikh, the Chairman of SECP, and senior officials from various relevant ministries and divisions.
Grant for Ads Payments
During the meeting, the ECC approved a summary from the Ministry of Information and Broadcasting, which sought a Technical Supplementary Grant (TSG) of Rs 2 billion from its total allocated budget of Rs 5.6 billion.
This grant will be used to clear the outstanding advertisement dues owed to media houses.
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The ECC also approved a proposal from the Ministry of Defence for a TSG amounting to Rs 430 million, aimed at funding the execution of SAP schemes in Punjab for the current financial year.
New Hospital for Islamabad
Additionally, the Committee approved an allocation of Rs 250 million as Government Paid-Up Capital for the Jinnah Medical Complex & Research Centre (JMC&RC) Company.
This funding will assist in the establishment of a 1,000-bed academic medical centre in Islamabad.
However, the ECC instructed the JMC&RC to provide a detailed breakdown of expenditures and activities to be covered by the approved Rs 250 million before requesting further allocations.
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The ECC also deliberated on a summary from the Finance Division regarding the phasing out of the State Bank of Pakistan’s long-term financing facility (LTFF) to Exim Bank.
EXIM Bank Guarantee
The Committee decided that the SBP’s LTFF portfolio, worth PKR 330 billion, would be phased out to Exim Bank, along with a Technical Supplementary Grant of PKR 1.001 billion to meet the LTFF subsidy requirements for the new portfolio in FY 2025.
Lastly, the ECC approved a summary from the Finance Division for a Technical Supplementary Grant of Rs. 24.556 million (equivalent to USD 87,671.21 at an exchange rate of Rs. 280.1/USD).
This is to give Mrs. Lia Bomba of JAED Textile Pvt Ltd, Sydney, Australia, in accordance with the specific directives of the Supreme Court of Pakistan, issued on March 19, 2025.
