ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved a series of economic and development measures, including relief assistance for monsoon affectees, incentives for digital payments, and the launch of a fan replacement scheme.
According to the Finance Division, the meeting was chaired by Finance Minister Senator Muhammad Aurangzeb, and attended by Petroleum Minister Ali Pervaiz Malik, SAPM on Industries and Production Haroon Akhtar Khan, federal secretaries and senior officials.
In view of heavy monsoon rains, the ECC granted in-principle approval for federal assistance to the rain-affected persons and sanctioned a Rs5.8 billion relief package, with instructions to immediately release Rs4 billion to the National Disaster Management Authority (NDMA).
Rs2b TSG for Fan Replacement Programme
The committee also approved a uniform application of fuel charges adjustment nationwide and endorsed a term sheet for the Prime Minister’s Fan Replacement Programme.
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To support the initiative, which aims to promote energy efficiency, the ECC also approved a technical supplementary grant (TSG) of Rs2 billion in favour of the National Energy Efficiency and Conservation Authority (NEECA).
The programme was launched in May with a target to provide 70 per cent of energy saving fans to consumers on easy installments for reducing electricity bills by promoting the use of low-energy fans.
Rs3.5b for digital payment systems
To promote digital adoption, the ECC approved an allocation of Rs3.5 billion for subsidising RAAST QR Code-based person-to-merchant payments, with the scheme to continue for three years.
The State Bank was tasked with notifying the scheme immediately and presenting an evaluation report by fiscal year-end.
New EV Policy 2025-30 green-lighted
The meeting also considered and approved a summary submitted by the Industries & Production Division pertaining to the New Energy Vehicle Policy 2025-30.
“The Committee commended the Division for preparing a comprehensive and forward-looking policy aligned with international best practices and recognized its potential to steer the country’s transition towards electric vehicles.”
On a summary by the Ministry of Maritime Affairs, the committee approved reimbursement of Rs330.5 million to Pakistan National Shipping Corporation (PNSC) through a TSG in connection with the arrest of PNSC ships in South Africa over claims linked to Pakistan Steel Mills.
The Ministry of Industries and Production was directed to expedite settlement of the arbitration case and report progress within three months.
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Moreover, the committee approved a TSG of Rs250 million for the Strategic Policy Planning Cell of the National Security Division, with further releases to be phased out subject to expenditure rationalisation.
Separately, the ECC was briefed on a new risk coverage scheme for small and subsistence farmers in Punjab, Sindh, and underserved regions, including KP, Balochistan, AJK and Gilgit-Baltistan. The initiative is expected to bring more than 750,000 new borrowers into the formal credit system over the next three years.
Reviewing the overall gas sector, the ECC directed the Petroleum Division to curb losses and enhance operational efficiency.
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