BeNewz
Related Articles
Aftab Maken
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, led by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, on Wednesday approved a series of key economic and development measures aimed at boosting industrial growth, improving global competitiveness, and strengthening national institutions, said an official release of the finance ministry.
To revive industrial activity and create jobs, the ECC approved the development of an Industrial Estate on the land of Pakistan Steel Mills (PSM) in Karachi. This decision is expected to attract new investments and stimulate economic growth in the region. The move comes as the government considers two plans for PSM’s future: either a revival of the mill or its liquidation. Previous discussions between the federal and Sindh governments had already laid the groundwork for using a portion of the land for industrial purposes.
To support Pakistan’s export-oriented sectors, the committee also removed the requirement for Health Quarantine Certificates on the import and export of leather. This measure is designed to streamline trade processes and make the leather industry more competitive on the international stage.
The ECC also sanctioned several grants for key government ministries and corporations. A Technical Supplementary Grant was approved for the Ministry of Climate Change and Environmental Coordination to facilitate its participation in the upcoming 30th Session of the Conference of Parties (COP-30) in Brazil. This grant will enable the ministry to continue its work on environmental protection and climate resilience.
Furthermore, a substantial Technical Supplementary Grant of Rs 2,829 million was approved for the Pakistan Television Corporation (PTVC) to upgrade its English News Channel. The goal is to enhance broadcast quality and expand the channel’s reach to a wider, global audience. The ECC, however, emphasized the importance of developing a business plan to ensure the channel’s long-term financial sustainability and reduce its dependence on government funding.
In his concluding remarks, the chair underscored the importance of swift and effective implementation of all approved decisions to ensure their intended economic and social benefits are realized.
