Islamabad: The Economic Coordination Committee (ECC) has given the nod to a significant financial package that will bolster various defence and security initiatives in Pakistan. The approval includes a substantial technical supplementary grant amounting to fifty billion rupees dedicated to a variety of sanctioned projects within the Defence Services.

According to Radio Pakistan, the ECC meeting took place in Islamabad with Finance Minister Muhammad Aurangzeb presiding. The session addressed multiple financial requests, including a submission from the Ministry of Interior and Narcotics Control. The ECC agreed to an additional grant of 841.56 million rupees, which will be utilized to enhance border control operations, ensure internal security, and maintain law and order, as managed by the Federal Civil Armed Forces.

Furthermore, the committee sanctioned a Technical Supplementary Grant of 100.3 million rupees aimed at the upkeep and repair of defence equipment used by the Federal Civil Armed Forces. These funds are expected to ensure the operational readiness and effectiveness of the nation’s security apparatus.

In addition to the defence and security allocations, the ECC considered a proposal from the Ministry of National Food Security and Research regarding the dissolution of PASSCO and the creation of a Special Purpose Vehicle (SPV). The committee has approved the establishment of the SPV, marking a significant restructuring in national food security management.

The committee’s agenda also included measures to attract and facilitate greater foreign investment in Pakistan’s petroleum exploration sector. By approving a set of proposals, the ECC aims to boost foreign participation and investment in this crucial industry, potentially enhancing the country’s energy resources and economic growth.