ECC Approves Rs2Bn for Media Dues, Allocates Grants for Key Projects

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance and Revenue Minister Senator Muhammad Aurangzeb, has approved multiple Technical Supplementary Grants (TSGs) to address financial obligations and support critical projects. The meeting, attended by key ministers, federal secretaries, and senior officials, focused on funding allocations across various sectors, including media, defense, healthcare, and financial restructuring.

One of the most significant approvals was a Rs2 billion grant for the Ministry of Information and Broadcasting, which will be used to clear outstanding advertisement dues owed to media houses. This allocation comes from the ministry’s Rs5.6 billion budget, aiming to settle long-pending liabilities.

The ECC also sanctioned Rs430 million for the Ministry of Defense, designated for the execution of SAP schemes in Punjab during the current financial year. Additionally, the committee approved an allocation of Rs250 million as Government Paid-Up Capital for the operations of Jinnah Medical Complex & Research Centre (JMC&RC), which aims to establish a 1,000-bed academic medical facility in Islamabad. However, the ECC has directed JMC&RC to provide a detailed expenditure breakdown before requesting further funds.

In a move to facilitate financial restructuring, the committee approved a Rs1.001 billion grant to aid the phasing out of the State Bank of Pakistan’s (SBP) Long-Term Financing Facility (LTFF) to Exim Bank. This transition will allow Exim Bank to take over SBP’s Rs330 billion LTFF portfolio, ensuring continued financing support for long-term projects.

The ECC also approved a Rs24.556 million (USD 87,671.21) payment to Mrs. Lia Bomba of JAED Textile Pvt Ltd, Sydney, Australia, in compliance with a Supreme Court order issued on March 19, 2025.