ISLAMABAD: The Economic Coordination Committee has sanctioned a technical supplementary grant of Rs50 billion, as proposed by the Defence Division, to fund multiple approved projects under the Defence Services.
The meeting, held in Islamabad today, was presided over by Finance Minister Muhammad Aurangzeb.
Following a summary from the Ministry of Interior & Narcotics Control, the committee endorsed an additional Rs841.56 million as a technical supplementary grant to bolster border control measures, internal security, and law-and-order functions carried out by the Federal Civil Armed Forces.
Additionally, Rs100.3 million was allocated as a technical supplementary grant for the upkeep and repair of defence equipment used by the Federal Civil Armed Forces.
The committee also assessed a proposal from the Ministry of National Food Security & Research concerning the dissolution of PASSCO and the creation of a Special Purpose Vehicle (SPV), which was subsequently approved.
Furthermore, a series of initiatives were adopted to enhance participation from foreign companies in Pakistan’s petroleum exploration industry, aiming to incentivize and facilitate greater involvement.
