ECC decisions taken at a meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb directed a coordinated approach to shore up financial sustainability in the power sector and to streamline several regulatory and fiscal measures. The Economic Coordination Committee reviewed the Circular Debt Management Plan for FY 2025–26 presented by the Power Division and asked the Power and Finance divisions to prepare a medium-term plan to gradually reduce fiscal support while instituting a follow-up mechanism with DISCOs to ensure delivery of committed targets.
The Committee approved amendments to the vehicle import procedure, retaining only the Transfer of Residence and Gift Schemes. Under the revised framework, commercial-import safety and environmental standards will apply to these schemes, the intervening import period will be extended from two to three years and imported vehicles will remain non-transferable for one year, tightening controls and aligning imports with regulatory standards.
On fuel pricing, the ECC approved revisions to margins for OMCs and petroleum dealers on MS and HSD, aligning increases with the National CPI for 2023–24 and 2024–25 and capping adjustments between 5 and 10 percent. Half of the increased margins will be paid immediately while the remaining half will be conditional on progress in digitization, with the Petroleum Division required to report back by June 1, 2026.
Recognising health risks, the Committee approved restrictions on imports of Trichloromethane (chloroform) due to its toxic and carcinogenic nature, limiting imports to pharmaceutical companies and requiring a DRAP-issued no-objection certificate for any import consignments.
Requests for concessionary gas/RLNG tariffs were also addressed; the ECC found the claim by M/s Ghani Glass untenable, noting that such subsidies are no longer permissible and that broader export-support initiatives are already under way to assist industry.
Support for digital and development projects featured prominently, with approval of a Technical Supplementary Grant of PKR 1.28 billion for the Pakistan Digital Authority to accelerate digital transformation and innovation across government departments. The Committee also approved release of technical supplementary funds for development expenditure of the Cabinet Division as proposed by the Interior and Narcotics Control Division and allocated Rs 5 billion to the Housing and Works Division through a Technical Supplementary Grant for the current fiscal year.
To resolve legacy liabilities, the ECC approved the creation of a special-purpose company to wind up PASSCO and settle its remaining obligations, authorising the company’s incorporation, administrative and financial arrangements, necessary regulatory exemptions and appointment of initial subscribers and interim management, with the entity to be dissolved once its mandate is completed.
Finally, the Committee accorded in-principle approval for the release of budgetary allocation to PIA Holding Company Ltd to meet pension and medical related expenses of PIACL employees. The meeting was attended by Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Federal Minister for Investment Board Qaiser Ahmed Sheikh, and senior federal secretaries and officials from concerned ministries, divisions and regulatory bodies, reflecting a cross-government focus on implementing the ECC decisions.
