The Economic Coordination Committee (ECC) of the Cabinet has formally recognized the ship-breaking industry as an official sector during a recent meeting chaired by Finance Minister Muhammad Aurangzeb.
The ECC directed the Ministry of Maritime Affairs to work closely with the Power Division to assess the potential impact of shifting the ship-breaking industry from commercial to industrial power tariffs. This move is aimed at supporting the sector’s operational sustainability while ensuring fair electricity pricing based on actual consumption patterns.
The decision came as part of a broader agenda discussed during the ECC meeting, which included policies on industry, telecom, housing, and environmental matters. Officials said the formal recognition of the ship-breaking industry is a step toward better regulatory oversight and sectoral development.
The committee also reviewed a range of proposals, including the approval of Pakistan’s Green Taxonomy to facilitate environmentally friendly financing, and a government guarantee for Rs1 billion under the Pakistan Skill Impact Bond to support outcomes-based skills development.
ECC Approves Housing Finance Scheme, Calls for Centralized Database
In housing, a markup subsidy and risk-sharing scheme was approved to make financing more accessible for low-income households. The ECC also called for the development of a centralized housing database for better planning and coordination across federal and provincial levels.
On the telecom front, the ECC approved revisions to Radio-Based Services (RBS) charges and restructured the advisory committee responsible for IMT spectrum release, a move aimed at strengthening next-generation broadband infrastructure.
The Ministry of Industries and Production also updated the committee on vegetable ghee and oil pricing trends. While stock levels remain stable, the ECC noted limited domestic price reductions despite a global decline, urging closer oversight to prevent potential market manipulation.
The formal inclusion of the ship-breaking industry into Pakistan’s recognized industrial sectors marks a policy shift that could improve regulatory support and resource allocation for the sector in the years to come.
