In an important step towards environmental reform, the Economic Coordination Committee (ECC) approved the green taxonomy of Pakistan, proposed by the Ministry of Climate Change and Environmental Coordination.
The finance minister praised the measure, describing it as “long duration” and crucial to unlock green financing.
According to a press release issued by the Ministry of Finance, the meeting, entitled by the Minister of Finance, Muhammad Aurengzeb, was released in a wide range of agenda articles related to industrial growth, environmental sustainability, skills development, housing finances and telecommunications.
The ECC reviewed and supported a report by the Ministry of Commerce on the improvement of industrial competitiveness and the promotion of growth led by exports in the steel sector. The proposal is aligned with the national policy of rate 2025–30 and seeks to reduce production costs and increase exports.
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ECC Greenlit a scheme of subsidy and exchange of risk to promote affordable housing financing, with the aim of expanding access to low -cost housing. In addition, he directed the development of an integrated database of the housing sector, in consultation with federal and provincial stakeholders, to improve the implementation.
The Committee also approved a summary of the Ministry of Commerce to present an appeal in the Supreme Court against a decision of the Superior Court of Lahore that granted tariff concessions of Gas/RLNG to Ghani Glass LTD, noting that the energy concessions for the export sectors had already retired and were no longer in force for any industry.
In the development of skills, the ECC approved a government guarantee of RS1 billion for the Pakistan’s ability impact bonus (PSIB) to support vocational training programs based on results. The Committee advised the Ministry to transition to public-private associations and reduce the dependence on sovereign guarantees.
The Ministry of Industries and Production informed ECC about trends in the Ghee and Petroleum Market market. Although national actions are sufficient, the Committee expressed concern about the slow transfer of the decrease in global prices to national consumers.
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He urged a close coordination with the Pakistan Competition Commission, the National Price Monitoring Committee (NPMC) and the provincial authorities to avoid the possible cartelization.
In the telecommunications sector, ECC approved a proposal from the TU Ministry and Telecommunications to review the positions of radio -based services (RBS). He directed the periodic reviews of these positions every three to five years in line with economic changes and technological advances.
The meeting, which was also attended by the Minister of Energy, Sardar Awais Leghari, the Minister of Petroleum, Ali Pervaiz Malik, and Commerce Minister Jam Kamal Khan, also approved a reviewed advisory committee for the release of IMT Spectrum, critic to improve access to broadband.
Finally, the ECC approved the formal recognition of rupture and recycling as an industry, as proposed by the Ministry of Maritime Affairs. The Committee instructed the Ministry to share energy consumption data in the sector with the Power division to evaluate the impact of the application of industrial energy tariffs instead of commercials.
