The Economic Coordination Committee (ECC) on Friday approved a series of key financial and development decisions at a meeting chaired by Federal Finance Minister Muhammad Aurangzeb, according to the Ministry of Finance.
The ECC approved major changes to the government’s low-cost housing scheme, increasing the loan limit under the Mera Ghar Mera Ashiana programme to Rs1 crore. The committee also fixed the mark-up rate at five per cent for beneficiaries of the scheme.
The Ministry of Finance said the five per cent interest rate would also apply to previously issued loans, providing relief to existing borrowers. The implementation of the housing scheme through the State Bank of Pakistan will continue.
In another significant decision, the ECC approved Rs6.61 billion for the Thar Coal Rail Connectivity Project. The ministry stated that improved rail connectivity would facilitate the transportation of local coal and contribute to strengthening the country’s energy sector.
The committee also approved funds for a project aimed at enhancing agricultural production in rain-fed areas, as part of broader efforts to support the agriculture sector and improve output in less irrigated regions.
