Islamabad, February 7, 2024 – In a strategic move to fortify its cybersecurity defenses, Pakistan has greenlit a substantial allocation of Rs 10 billion.
The approval came on Wednesday during a meeting of the Economic Coordination Committee (ECC) of the Cabinet, underscoring the government’s commitment to enhancing cybersecurity measures.
The ECC, chaired by Federal Minister for Finance, Revenue, and Economic Affairs Dr Shamshad Akhtar, granted a technical supplementary grant of Rs 10 billion for the Ministry of Information Technology and Telecommunication as part of the Digital Information Infrastructure Initiative. The funds are earmarked to empower the ministry with advanced technical capabilities to proactively identify and counter potential cyber threats on the national critical information infrastructure.
A news release from the Finance Ministry highlighted that the allocated funds would be instrumental in preventing cybersecurity breaches and bolstering the nation’s overall cybersecurity posture. This move aligns with global trends, as nations increasingly recognize the importance of securing their digital infrastructure against evolving cyber threats.
The ECC meeting was attended by key ministers and officials, including Minister for Energy and Petroleum Division Mohammad Ali, Minister for Planning, Development and Special Initiatives Sami Saeed, Minister for Communication Maritimes and Railways Shahid Ashraf Tarar, Minister for Information and Technology Umar Saif, Deputy Chairman Planning Commission Dr Muhammad Jehanzaeb Khan, and Advisor to the PM on Finance Dr. Waqar Masood.
In addition to the cybersecurity allocation, the ECC approved various proposals addressing critical sectors. Notably, the committee endorsed the Petroleum Division’s proposal for the “Re-grant of Sui Development and Production Lease,” a move supported by the Balochistan Government. Discussions also encompassed the Ministry of Maritimes Affairs, where a revised fee structure for the issuance of certificates related to fish and fishery products was approved, with directives to explore additional avenues for investment.
Further approvals included the extension of the Farm Mechanization Scheme under the Kissan Package, as proposed by the Ministry of National Food Security and Research. The ECC also gave the green light to amendments in the decision regarding urea fertilizer requirements for the Rabi Season 2023-24, emphasizing the absence of subsidy implications.
The committee delved into the energy sector, approving a settlement deed pursuant to the Pakistan Oil Refining Policy 2023 for the upgrading of existing/brownfield refineries. It suggested the Petroleum Division offer the opportunity to private parties. Additionally, three summaries from the Petroleum Division pertaining to the supply of gas/RLNG to Fatimafert and Agritech, gas allocation from M/s United Energy Pakistan’s Mohar Field to SSGCL, and the allocation of condensate to Attock Refinery Limited with freight charges adjustment were greenlit by the forum.
With these comprehensive decisions, the ECC has not only bolstered Pakistan’s cybersecurity capabilities but also addressed key concerns across various sectors, showcasing a commitment to robust economic and technological advancement.
