The Economic Coordination Committee (ECC) has approved several financial grants including a Technical Supplementary Grant (TSG) of Rs2 billion from the Ministry of Information and Broadcasting’s allocated budget of Rs5.6 billion.
The grant will be used to clear outstanding advertisement dues owed to media houses, according to an official statement.
The decisions were made during an ECC meeting chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Friday.
In addition to the media-related grant, the ECC approved a TSG of Rs430 million for the Ministry of Defence to execute SAP schemes in Punjab for the current fiscal year.
The Committee also sanctioned Rs250 million as government-paid-up capital for the Jinnah Medical Complex & Research Centre (JMC&RC) in Islamabad to support the establishment of a 1,000-bed academic medical centre.
However, the ECC instructed JMC&RC to submit a detailed breakdown of expenditures and planned activities before requesting additional allocations.
Further, the ECC reviewed a proposal from the Finance Division regarding the phasing out of the State Bank of Pakistan’s (SBP) long-term financing facility (LTFF) for Exim Bank.
It was decided that the SBP’s Rs330 billion LTFF portfolio would transition gradually to Exim Bank, with an initial Rs1 billion allocated through a TSG to cover the LTFF subsidy for FY 2025.
