The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved the issuance of over Rs659 billion in government guarantees for the settlement of circular debt, according to an official statement issued after the meeting.
The ECC also approved the gradual phase-out of home remittance incentive schemes for overseas Pakistanis. Under the plan, all home remittance schemes will be completely discontinued by 2027. The decision aims to ensure stability in remittance inflows even after the schemes are phased out.
Additionally, the committee approved the settlement of dues of state-owned power plants, OGDCL, and SNGPL as part of broader financial restructuring measures.
The ECC also directed further consultations on the framework for the export of minerals and metals through Port Qasim, emphasizing regulatory clarity and export facilitation.
Moreover, the committee approved the release of funds for salaries of PWD staff transferred to the Ministry of Interior, the statement added.
In another decision, the ECC approved the supply of gas from the Mari Gas Field to fertilizer manufacturers, along with the determination of gas pricing mechanisms.
