ISLAMABAD: In a significant move to bolster the country’s economy and security, the Economic Coordination Committee (ECC) of the cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved several key financial packages and policy decisions during its meeting on Thursday .
A major focus of the meeting was on enhancing security and compensating citizens. The committee approved a substantial sum of Rs. 20 billion to be released in phases to the Ministry of Interior for the maintenance of law and order across the country . Additionally, Rs. 174.8 million was sanctioned specifically to support the law enforcement efforts of the Frontier Corps KP (North) in Peshawar, strengthening security infrastructure in the Khyber Pakhtunkhwa province .
In a separate decision, the ECC approved Rs. 4 billion in funds to provide cash compensation to residents whose land was acquired for the construction of the Defence Complex in Islamabad. The committee directed that any remaining financial requirement for this project be met by the Capital Development Authority (CDA) .
On the international trade front, the ECC approved amendments to the Business-to-Business (B2B) Barter Trade Mechanism with Afghanistan, Iran, and Russia. This move is designed to facilitate smoother bilateral trade by addressing previous implementation issues and is expected to improve regional trade relations .
The committee also addressed the financial needs of the Roosevelt Hotel in New York. While the ECC expressed support for providing financial assistance, it directed the relevant ministry to revisit and reconfirm its financial estimates and resubmit the proposal for consideration .
