ECC approves industrial estate at PSM land, leather export facilitation
The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, was attended by Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Commerce Jam Kamal Khan, federal secretaries and senior officials.
The ECC approved the removal of the requirement for Health Quarantine Certificates on the import and export of leather. The move aims to facilitate the leather industry and enhance its competitiveness in global markets.
ECC approves rollout of EV subsidy, other grants
A Technical Supplementary Grant was also approved for the Ministry of Climate Change and Environmental Coordination for the fiscal year 2025-26. The allocation will support Pakistan's participation in the 30th Session of the Conference of the Parties (COP-30) in Brazil later this year, as part of broader efforts to strengthen environmental protection and climate resilience.
The committee sanctioned Rs 2.829 billion for Pakistan Television Corporation (PTVC) to upgrade its English news channel in order to improve broadcast quality and expand outreach to global audiences. The ECC directed the Ministry of Information to prepare a comprehensive business plan to make the channel self-sustainable and reduce reliance on federal grants.
ECC approves key policy interventions in EFS
In a significant industrial development, the ECC approved the creation of an industrial estate on PSM land in Karachi, a project aimed at boosting industrial activity, generating jobs, and attracting investment.
Aurangzeb emphasised the need for the timely implementation of the approved measures to ensure their intended economic and social benefits.
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Express Tribune
6 hours ago
- Express Tribune
Industrial zone on PSM land planned
The government on Wednesday decided to establish a new industrial estate on the land of the closed Pakistan Steel Mills (PSM) and also sanctioned the diversion of Rs2.9 billion in publicity funds for the upgradation of an English news channel operated by the Pakistan Television Corporation (PTV). The decisions were taken by the Economic Coordination Committee (ECC) of the Cabinet, which met under the chairmanship of Finance Minister Muhammad Aurangzeb. The ECC approved the establishment of the industrial estate on 3,200 acres of PSM land by changing its designated use from steel mills to industrial. The decision followed discussions with the Sindh government and deliberations in the apex committee of the Special Investment Facilitation Council (SIFC). The ECC also rescinded its two-and-a-half-year-old decision banning the lease of PSM land to any industry, organisation, group, or individual, a move aimed at facilitating the development of the new industrial estate over the 3,200 acres. The government is also attempting to revive the closed PSM with assistance from Russia. Last month, Special Assistant to the Prime Minister (SAPM) on Industries Haroon Akhtar Khan visited Russia and held talks on the mill's revival. According to Khan, the Russians expressed willingness to finance and conduct a feasibility study for the project. The matter of pricing PSM land remains open, although the SIFC has already instructed that instead of selling land for industrial purposes, the concerned entities should issue licenses, a step that would substantially reduce costs for setting up new factories. The ECC directed the Board of Investment (BOI) to develop clear criteria and terms and conditions for the allotment of land to industrial units and private developers for the establishment of the industrial estate within one month. The government maintains that the industrial estate should not be developed using taxpayers' money and that private developers should be engaged instead. PSM owns about 19,013 acres of land in Karachi. Of this, 6,409 acres are available for setting up an industrial estate. However, the Sindh government has stated that establishing such an estate would require a change in land use from steel mills to industrial. The Ministry of Industries informed the ECC that Pakistan's regional competitors are offering a wide range of incentives to attract investment in the manufacturing sector, extending far beyond the provision of land at subsidised rates. Furthermore, comparatively higher costs of energy, power, and taxes constitute major impediments that could be offset by granting land through licenses. The ministry also noted that the PSM has accrued liabilities of around Rs400 billion and that land remains the primary source to offset these. Since the current proposal does not involve transferring ownership of the land, the option to leverage it to offset PSM liabilities at an appropriate stage would remain intact, it added. The ECC also approved a supplementary grant of Rs2.9 billion for upgrading PTV World, the English news channel owned by the state-run PTV Corporation. The decision was influenced by the context of the India-Pakistan war. Both military and civilian authorities believe the country requires more English-language channels to convey the state's narrative to foreign audiences and the diplomatic corps in Pakistan. The Rs2.9 billion will be used to modernise PTV World's infrastructure, enhancing its capacity for high-quality national and international broadcasting, the ECC was informed. The Ministry of Information told the ECC that, through its special wartime transmissions, PTV World had made a vital contribution to safeguarding national and ideological interests, boosting public morale, and projecting the courage and professionalism of Pakistan's Armed Forces on the international stage. Based on this experience, the PTV Corporation emphasised the urgent need to upgrade and modernise PTV World's infrastructure to meet the demands of emerging broadcast technologies. However, due to severe financial constraints and limited internal resources, the corporation cannot undertake this initiative independently. The government has decided to divert Rs2.9 billion from the Rs5 billion allocated in the budget for government publicity and advertisement expenditure. The finance ministry also agreed to reallocate the funds from the publicity budget. The finance ministry stated that the ECC had sanctioned Rs2.9 billion for the upgradation of its English news channel to improve broadcast quality and expand outreach to global audiences. The ECC further urged the ministry to develop a comprehensive business plan to make the channel self-sufficient and financially sustainable, thereby reducing dependence on federal grants in the future. The ECC also approved the removal of the requirement for Health Quarantine Certificates on the import and export of leather, a step aimed at facilitating the leather industry and enhancing its competitiveness in international markets, according to a Ministry of Finance announcement after the meeting. The committee additionally approved a supplementary grant for the Ministry of Climate Change and Environmental Coordination for the current financial year 2025-26, enabling the ministry to strengthen initiatives for environmental protection and climate resilience through participation in the upcoming 30th Session of the Conference of Parties (COP-30) to be held in Brazil later this year.
Business Recorder
6 hours ago
- Business Recorder
‘Grow More Wheat' competition: Jhang's farmer bags 1st position
LAHORE: Muzaffar Mahmood, a progressive farmer from District Jhang secured the 1st position in 'Grow More Wheat' competition arranged by the Punjab government by having a wheat yield of 69.96 maunds per acre, earning him an 85-horsepower tractor. This was announced at the prize-distribution ceremony among the provincial and divisional level winners of the competition held on Wednesday. On this occasion, the portal for applications under the second phase of the Green Tractor Program was also formally launched. Minister for Agriculture and Livestock Punjab Syed Ashiq Hussain Kirmani attended the ceremony as the chief guest, while Parliamentary Secretary for Agriculture Usama Khan Leghari and Secretary Agriculture Punjab Iftikhar Ali Sahoo were also present. Muhammad Afzal from District Kasur achieved the second position with a yield of 69.87 maunds per acre and received a 75-horsepower tractor, while Shahid Abbas Khan from Dera Ghazi Khan secured the third position with 69.72 maunds per acre and was awarded a 60-horsepower tractor. Kirmani personally handed over the keys and documents of the tractors to the successful farmers. In addition, cash prizes of Rs 1 million, Rs 800,000, and Rs 500,000 were distributed among the first, second, and third place winners of the Lahore Division wheat competition, respectively. Addressing the ceremony, Kirmani said the service and prosperity of farmers are among the top priorities of Chief Minister Punjab. Under the Chief Minister's vision, modern agricultural machinery facilities are being introduced to increase yields and reduce production costs. He informed that under the second phase of the Green Tractor Program, 10,000 tractors ranging from 75 to 125 horsepower will be provided to farmers with a subsidy of Rs 1 million per tractor. The Minister further stated that under the Punjab Agriculture Transforming Program, projects such as an interest-free loan scheme, establishment of agri-malls, provision of Rs. 75 billion through the Kissan Card under the Wheat Support Program, and free distribution of 1,000 tractors to farmers cultivating wheat on 12.5 acres or more are successfully underway. He announced that before the next wheat sowing season, the Chief Minister Punjab will announce a special package worth Rs 100 billion to support farmers. The Agriculture Secretary said that the government is taking concrete steps to promote farm mechanization, reduce crop production costs, and ensure the supply of quality agricultural inputs. These initiatives will prove to be milestones in increasing farmers' income and advancing the agriculture sector. At the conclusion of the ceremony, the Provincial Minister for Agriculture distributed certificates among officers demonstrating outstanding performance, including Director General Agriculture Extension Ch Abdul Hameed, Director General Agricultural Information Punjab Naveed Asmat Kahloon, and others. Additional Secretary Agriculture (Planning) Aamir Shehzad Kung, Additional Secretary Agriculture (Task Force) Punjab Muhammad Shabbir Ahmed Khan, wheat farmers, and representatives of the tractor industry also attended the event. Copyright Business Recorder, 2025
Business Recorder
7 hours ago
- Business Recorder
Spot rate up Rs100 per maund
LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 100 per maund and closed it at Rs 16,400 per maund. Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained firm and the trading volume remained satisfactory. He also told that the rate of new cotton in Sindh is in between Rs 16,400 to Rs 16,500 per maund and the rate of cotton in Punjab is in between Rs 16,300 to Rs 16,500 per maund. The rate of Phutti in Punjab is in between Rs 6,500 to Rs 7,600 per 40 kg and the rate of Phutti in Sindh is in between Rs 7,200 to Rs 7,700 per 40 kg. The rate of cotton in Balochistan is in between Rs 16,300 to Rs 16,400 per maund. The rate of Phutti in Balochistan is in between Rs 6,800 to Rs 7,700 per maund. approximately, 1000 bales of Tando Adam were sold in between Rs 16,200 to Rs 16,400 per maund, 800 bales of Sanghar were sold in between Rs 16,200 to Rs 16,400 per maund, 200 bales of Layyah were sold at Rs 16,200 per maund, 200 bales of Vehari were sold at Rs 16,225 per maund, 200 bales of Khanewal, 200 bales of Kassowal were sold at Rs 16,200 per maund and 200 bales of Winder were sold at Rs 16,250 per maund. The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 100 per maund and closed it at Rs 16,400 per maund. Polyester Fiber was available at Rs 330 per kg. Copyright Business Recorder, 2025
