ISLAMABAD: The federal government has approved additional funding of Rs2.1 billion for the purchase of bullet-proof vehicles to transport Army Public School students in Balochistan, officials said on Tuesday.
The decision was taken at a meeting of the Economic Coordination Committee (ECC) chaired by Finance Minister Senator Muhammad Aurangzeb. The funds will be used to procure 38 bullet-proof vehicles.
According to the Ministry of Finance, the ECC approved a technical supplementary grant after reviewing a summary moved by the Defence Division. The ministry said the decision was made in view of operational and security requirements.
The move follows a past militant attack on an Army Public School in Balochistan, which heightened concerns over the safety of students in the province.
The ECC also approved a technical supplementary grant to award prize money to Pakistan’s Under-19 men’s cricket team.
The meeting was attended by Energy Minister Awais Leghari, Petroleum Minister Ali Pervaiz Malik, Investment Minister Qaiser Sheikh, Special Assistant Haroon Akhtar, and other senior officials.
Participants offered prayers for the departed soul of former finance minister Dr Shamshad Akhtar.
Separately, Finance Minister Aurangzeb told China Central Television (CCTV) that Pakistan would issue Panda Bonds within the next few weeks. He said the move would mark an important milestone in Pakistan-China financial cooperation and help reduce Pakistan’s reliance on the US dollar.
Speaking at a financing documents ceremony, the finance minister said Pakistan’s demographic advantage could only translate into real strength if young people were equipped with modern skills on a large scale.
He said Pakistan had achieved a historic milestone in education and skills development with the launch of the Pakistan Skills Impact Bond (PSIB), the country’s first privately financed impact bond in the education sector.
Addressing another event, Aurangzeb said Pakistan had become the world’s third-largest freelancing country. He added that the youth could emerge as the country’s strongest economic force if given the right opportunities.
