The Economic Coordination Committee (ECC) of the Cabinet has approved several supplementary grants and trade facilitation measures during its recent meeting. The session was chaired by Finance Minister Senator Muhammad Aurangzeb and attended by key federal ministers and senior officials.
One of the main items discussed was financial support for the Roosevelt Hotel in New York, following the termination of its lease agreement with New York City. The ECC agreed to provide urgent assistance but directed the Interior Ministry to review its estimates and resubmit the proposal for further consideration.
The committee also approved a Technical Supplementary Grant (TSG) of Rs4 billion for cash compensation to residents whose land was acquired for the Defence Complex Islamabad project. The remaining requirement will be met by the Capital Development Authority (CDA).
In addition, the ECC considered a proposal from the Ministry of Interior for Rs20 billion in phased funding to maintain law and order. This allocation will be released on demand in consultation with the Finance Division. The committee also approved another Rs174.8 million for the Interior Division to support enforcement operations by the Frontier Corps KP (North) in Peshawar.
Beyond financial approvals, the ECC also advanced trade facilitation measures aimed at strengthening regional commerce. It approved a draft Statutory Regulatory Order (SRO) proposed by the Ministry of Commerce. The new framework amends the Business-to-Business (B2B) Barter Trade Mechanism governing trade with Afghanistan, Iran, and Russia.
Officials noted that these trade facilitation measures are designed to simplify processes and improve the flow of goods with regional partners. They are expected to reduce delays, enhance compliance, and expand opportunities for Pakistani exporters.
By endorsing both financial support and trade facilitation measures, the ECC reaffirmed its role in stabilizing economic priorities and supporting the private sector’s growth.
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