3 days ago
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- Business Recorder
ECC approves industrial estate development at PSM land
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved several economic measures including the development of industrial estate at Pakistan Steel Mills (PSM) land, leather export facilitation and major grants for climate and media upgrades.
The committee met under the chairmanship of Federal Minister for Finance and Revenue Muhammad Aurangzeb, here on Wednesday, to deliberate on key economic and development matters.
In a significant decision, the ECC approved the development of an industrial estate on the land of PSM in Karachi, aimed at boosting industrial activity, generating employment opportunities, and attracting investment.
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The ECC considered and approved the removal of the requirement for Health Quarantine Certificates on the import and export of leather, a measure aimed at facilitating the leather industry and enhancing its competitiveness in international markets.
The committee also approved a Technical Supplementary Grant (TSG) for the Ministry of Climate Change and Environmental Coordination for the current financial year 2025-26, enabling the ministry to strengthen its 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.
Furthermore, the ECC sanctioned a TSG amounting to Rs2,829 million in favour of the Pakistan Television Corporation (PTVC) for the upgradation of its English News Channel to improve broadcast quality and expand outreach to global audiences. The committee 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 chair underscored the importance of timely and effective implementation of these decisions to ensure their intended economic and social benefits.
Copyright Business Recorder, 2025
