ECC approves over Rs659 bln guarantee for circular debt settlement

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved the issuance of over Rs659 billion in government guarantees for the settlement of circular debt, according to an official statement issued after the meeting.

The ECC also approved the gradual phase-out of home remittance incentive schemes for overseas Pakistanis. Under the plan, all home remittance schemes will be completely discontinued by 2027. The decision aims to ensure stability in remittance inflows even after the schemes are phased out.

Additionally, the committee approved the settlement of dues of state-owned power plants, OGDCL, and SNGPL as part of broader financial restructuring measures.

The ECC also directed further consultations on the framework for the export of minerals and metals through Port Qasim, emphasizing regulatory clarity and export facilitation.

Moreover, the committee approved the release of funds for salaries of PWD staff transferred to the Ministry of Interior, the statement added.

In another decision, the ECC approved the supply of gas from the Mari Gas Field to fertilizer manufacturers, along with the determination of gas pricing mechanisms.

ECC Approves Rs3bn Grants for Various Departments:

In February 2025, the Economic Coordination Committee (ECC) of the Cabinet on Monday approved a grant of over Rs 3 billion for various departments and organisations.

Finance Minister Muhammad Aurangzeb chaired the ECC meeting , n Islamabad that approved Rs 2.79 billion for procurement of arms and ammunition and engaging Nespak as design consultant for Digital Enforcement Stations and check posts.

It also okayed approval to 494.56 million rupees to construct barracks and check posts for Frontier Corps Khyber Pakhtunkhwa (North).

Besides, a grant worth Rs 500 million was allowed in favour of the Intelligence Bureau Division. Speaking on the occasion, the Finance Minister emphasised that the reduction in core inflation, average inflation, and the downward price trends should translate into tangible relief for the common man.

The ECC also directed to ensure strategic reserves of wheat, sugar, and pulses. It instructed to improve the supply chains of essential items ahead of the holy month of Ramadan.

The forum called upon Provincial Price Control Committees to enforce strict compliance with the price control mechanism, curb cartelization, and prevent undue profiteering in order to protect consumers from unfair price hikes.