Islamabad: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved a series of key economic initiatives aimed at enhancing affordable housing, boosting industrial development, and addressing price volatility in essential commodities.
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In a significant move to tackle the housing crisis, the ECC approved a comprehensive scheme to construct 50,000 low-cost houses across the country. The project will be supported under the Mark-up Subsidy Risk Sharing Scheme, providing loans between Rs2 million and Rs3.5 million with a tenure of up to 20 years.
Officials said the scheme aims to revitalize the housing sector and stimulate broader economic activity. The Ministry of Housing was directed to create a national database of housing needs and consult federal and provincial bodies to ensure coordinated implementation.
Recognizing the economic potential of ship recycling, the ECC approved industry status for the shipbreaking sector. The move is expected to streamline regulations, attract foreign and local investment, and integrate the sector into formal economic frameworks.
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In a bid to promote skills development, the ECC sanctioned a Rs1 billion government guarantee for the launch of the Pakistan Skill Impact Bond. This initiative will fund training programs aimed at improving employability and human capital development nationwide.
To make the steel sector more export-oriented and competitive, the ECC endorsed policy interventions under the National Tariff Policy 2025–30. The Finance Ministry emphasized that reforms will target cost efficiencies and enhance global competitiveness.
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The committee expressed serious concern over the recent surge in ghee and cooking oil prices, noting the mismatch with declining international rates. The Ministry of Industries was tasked with engaging manufacturers and suppliers to ensure that relief reaches consumers.
The ECC also instructed greater coordination among the Competition Commission of Pakistan (CCP), the National Price Monitoring Committee, and provincial governments to curb price manipulation and cartelization.
