The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved multiple economic initiatives aimed at promoting low-cost housing, industrial development, and price stability.

During the high-level meeting, the ECC gave the green light to a major scheme for the construction of affordable housing across the country. According to sources, the government will provide financial assistance under the Mark-up Subsidy Risk Sharing Scheme, facilitating the construction of 50,000 low-cost homes.

Under the proposed framework, loans ranging from Rs2 million to Rs3.5 million will be offered for a period of up to 20 years. Sources in the meeting said that the initiative is expected to boost the housing sector and contribute to economic activity.

The Ministry of Housing has been directed to develop a comprehensive national database of the housing sector and to hold consultations with relevant federal and provincial stakeholders for efficient implementation.

Shipbreaking sector gets industry status

In another key decision, the ECC approved the proposal to grant regular industry status to the shipbreaking and recycling sector, a move aimed at streamlining operations and attracting investment in this vital but often overlooked industry.

Rs1bn guarantee for Skill Impact Bond

The ECC also approved a guarantee of Rs1 billion for the issuance of the Pakistan Skill Impact Bond, which will support skill development programs across the country.

Boost to steel sector under tariff policy

To support exports and industrial development, the ECC endorsed measures to promote the steel industry under the National Tariff Policy 2025-30. The Ministry of Finance stated that efforts would focus on making the sector export-oriented and globally competitive.

Price hike in ghee, cooking oil under scrutiny

The ECC took serious notice of the recent increase in prices of ghee and cooking oil, expressing concern that the public was not receiving adequate relief despite a decline in international prices. The Ministry of Industries briefed the committee on the availability and pricing of these essential commodities.

The ECC emphasized stronger coordination between the Competition Commission of Pakistan (CCP), National Price Monitoring Committee, and provincial governments to prevent price manipulation and cartelization. It also directed the Ministry of Industries to actively engage with all stakeholders to ensure price stability.

Other decisions

Approval to review of charges for radio-based communication services.
Decision to approach the Supreme Court regarding gas tariff concessions given to a private company.