Islamabad, June 5, 2023 – The Economic Coordination Committee (ECC) of the Cabinet granted its approval on Monday for a government guarantee amounting to Rs9.2 billion towards the construction of the Hyderabad-Sukkur motorway.
Chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, the ECC meeting was attended by Federal Minister for Industries and Production Syed Murtaza Mahmud, Mr. Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Federal Secretaries, and other senior officers.
During the meeting, the ECC reviewed a summary from the Ministry of Communications and approved the issuance of a Government of Pakistan (GoP) guarantee amounting to Rs. 9.5 billion for the construction of the Hyderabad-Sukkur motorway on a build-operate-transfer basis.
Additionally, the ECC considered a summary from the National Disaster Management Authority and granted approval for the allocation of Rs. 12 billion to procure relief items for restocking and replenishing reserves. This will enhance preparedness in responding to potential disasters.
The Ministry of National Health Services, Regulations, and Coordination presented a summary that was discussed in detail. Following the discussion, the ECC approved the fixation of Maximum Retail Prices (MRPs) for 49 new drugs. These MRPs have been set lower than the prices of similar drugs in neighboring countries, making them more affordable for the Pakistani market.
Moreover, the ECC granted approval for several Supplementary and Technical Supplementary Grants, including funding for the New Gwadar International Airport, meeting shortfalls in different organizations, and supporting the raising process of the 6th Battalion of Pakistan Post Guards for anti-smuggling purposes.
The ECC also allocated funds for projects related to civil armed forces, the Frontier Constabulary Training Center in Khyber Pakhtunkhwa, FATA Temporary Displaced Persons Emergency Recovery Project (TDP-ERP), financial assistance for the families affected by the Swat terrorism incident, and the execution of the 2×660 MW Coal-fired Power project in Jamshoro.
In addition, funds were allocated for the ERE shortfall of various ministries, including Ministry of Parliamentary Affairs, Pakistan Atomic Energy Commission, National Counter Terrorism Authority, Ministry of Defence, and Economic Affairs Division (EAD) for debt servicing of foreign loans and credits.
The ECC’s approval of the guarantee for the Hyderabad-Sukkur motorway signifies the government’s commitment to infrastructure development. These decisions, aimed at enhancing disaster management capabilities and addressing healthcare concerns, will contribute to the overall socioeconomic development of Pakistan.