Islamabad: The government has halted the construction of the new export processing zone in Balochistan in compliance with an IMF condition.
During a meeting of the Economic Coordination Committee (ECC), the Ministry of Finance opposed the project, leading the Ministry of Industries and Production to withdraw its summary for the construction of the export processing zone in the Siah Dekk area of Balochistan.
The export processing zone was intended to enhance exports, but the ECC, chaired by Finance Minister Muhammad Aurangzeb, decided against it.
The ECC also approved additional funds of one billion rupees for hosting the Shanghai Cooperation Organization summit, which will be held in Islamabad on October 15 and 16.
It should be noted that Secretary Jamil Qureshi of the Securities and Exchange Commission of Pakistan had denied reports of shutting down export processing zones under IMF conditions.
However, just hours after his statement was released on X (formerly Twitter), the decision to establish the export processing zone in Balochistan was reversed.
Additionally, the ECC approved the procurement of civil works for the Kalkatak-Chitral 48-kilometer road project (N-45) and granted the Ministry of Communications and the National Highway Authority the authority to procure these works according to Public Procurement Rules (PPR) 5.
The ECC also directed the provision of 238.4 million rupees for the payment of outstanding amounts under the 2015-16 wheat subsidy scheme.
It instructed the Ministry to arrange funds through available budget resources and address long-pending claims, taking into account the recommendations of the Senate’s Standing Committee on Finance and Revenue.
In the meeting, the ECC recommended the closure of the Pakistan Central Cotton Committee and directed that the case be presented to the Cabinet Committee on Federal Rights.
The ECC also approved the prioritization of gas supply for industrial purposes.
The ECC approved a proposal to amend the existing gas allocation priorities, placing gas usage for domestic, commercial, and industrial processes at the highest priority.
Gas usage for captive power industries will be downgraded to a lower priority compared to CNG, facilitating the industry’s use of gas for its operations.