ISLAMABAD: In a significant move, the Economic Coordination Committee (ECC) of the Cabinet chaired by Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, approved Supplementary and Technical Supplementary Grants (TSG) of Rs 422.3 billion for various divisions, days ahead of the budget for the fiscal year 2023-24.. The committee also allocated Rs 12 billion to the National Disaster Management Authority to replenish its relief item reserves, ensuring better preparedness for future disasters.
One of the key decisions made during the ECC meeting was the fixation of maximum retail prices for 49 new drugs. These drugs, being introduced in Pakistan for the first time, will be available at considerably lower prices compared to neighboring countries. This move is aimed at providing affordable healthcare options to the people of Pakistan.
Attendees at the ECC meeting included Federal Minister for Industries and Production Syed Murtaza Mahmud, former prime minister Shahid Khaqan Abbasi, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Minister of State for Petroleum Musadik Masood Malik, Special Assistant to the Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, federal secretaries, and other senior officers.
Furthermore, the ECC approved 16 supplementary and technical supplementary grants totaling over Rs20 billion. This includes Rs9,145 million allocated to the Power Division for the execution of the 2,660 MW coal-fired power project in Jamshoro. Additionally, Rs12 billion was approved for the procurement of relief items to replenish reserves, enhancing the country's preparedness to respond effectively to any future disasters.
The ECC also approved various grants for crucial sectors and projects. Notable approvals include Rs839.129 million for the "New Gwadar International Airport," Rs120.450 million for the Establishment Division to meet the shortfall of ERE and Non-ERE components, and Rs140.584 million for the payment of government departments for rendered services. The Ministry of Human Rights received Rs116.499 million to address essential expenditures in different organizations working under the ministry. Moreover, the Ministry of Information and Broadcasting was granted Rs700 million to meet the shortfall during the current fiscal year.
In line with its commitment to security and development, the ECC approved funds for key projects and initiatives. This includes Rs48 million for the Ministry of Interior for the construction of the Fata Levies Centre, Rs470.827 million for the payment of troops cost/subsistence allowance to personnel of civil armed forces deployed in UN Peacekeeping Missions, and Rs66.336 million for the construction of the Frontier Constabulary Training Centre in Khyber Pakhtunkhwa.
The ECC's proactive decisions reflect the government's commitment to addressing pressing issues, promoting economic growth, and improving the welfare of the people of Pakistan.
