The committee also approved several financial allocations and reforms covering SMEs, railways, elections, sports, agriculture and revenue automation.
The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal to invest resources of the Export Development Fund (EDF) in government securities under the approved framework.
The decision was taken during an ECC meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. The committee reviewed 17 agenda items concerning financing, development projects, infrastructure, institutional reforms and various sector-specific measures.
The Ministry of Commerce presented the EDF proposal, which aims to ensure productive utilisation of available funds while strengthening the financial sustainability of the export development mechanism.
The ECC also approved a financing framework proposed by the State Bank of Pakistan to bring Agency Financial Institutions (AFIs) under existing government risk coverage schemes for small enterprises and small farmers. The initiative will allow eligible microfinance and non-banking financial institutions to expand financing through wholesale and agency arrangements.
Another decision involved an amendment to the Credit Guarantee Trust Fund’s Second Supplemental Trust Deed. The change is intended to improve utilisation of the existing credit guarantee facility and support affordable housing finance.
For industrial development, the committee approved a Rs2.0 billion Technical Supplementary Grant for the Small and Medium Enterprises Development Authority (SMEDA) to implement its approved business plan. It also sanctioned Rs11.329 billion for the Utility Stores Corporation to meet immediate financial requirements and support its closure process.
The ECC further approved Rs8.0 billion for the Public Private Partnership Authority to advance infrastructure projects under public-private partnership arrangements. A separate Rs10.0 billion allocation was approved for the Ministry of Railways to provide budgetary support for the Thar Coal Rail Connectivity Project.
The committee also sanctioned Rs596.18 million for election-related activities, including local government elections and delimitation work. In addition, Rs2.0 billion was approved for the immediate release of funds related to the procurement of non-sensitive election materials.
Other approved allocations included Rs300 million for the Capital Development Authority, Rs150 million for Pakistan’s participation in COP31 in Türkiye, and Rs934.481 million for the Pakistan Sports Endowment Fund Scheme.
The ECC also approved Rs1,666.176 million for training 1,000 agricultural professionals in China, aiming to strengthen expertise in modern agricultural technology and research.
In revenue-related measures, the committee approved an amendment concerning Additional Customs Duty on locally manufactured tyre imports and sanctioned Rs4.0 billion for Pakistan Revenue Automation (PRAL) to support the FBR Transformation Plan.