The Economic Coordination Committee (ECC) of the Cabinet approved on Friday the green taxonomy of Pakistan, as proposed by the Ministry of Climate Change and Environmental Coordination, in an “important step towards environmental sustainability.”
“The president appreciated the initiative, noting that he was very late and would play a vital role in facilitating access to financing for ecological projects in the country,” said a statement issued by the Finance Division.
During a meeting of the Senate Permanent Committee on Climate Change and Environmental Coordination in March, the Governor of the State Bank Jameel Ahmad said that taxonomy will allow financial and non -financial companies to share a common definition of economic activities that can be considered environmentally sustainable.
The statement issued today indicated that the ECC meeting was held under the presidency of the Minister of Finance, Muhammad Aurengzeb, to deliberate in a variety of important elements of the agenda on industrial growth, environmental policy, skills development, housing finances and telecommunications.
The meeting was attended by Federal Minister of Power Sardar Awais Ahmed Khan Leghari, Minister of Petroleum Ali Pervaiz Malik, Minister of Commerce Jam Kamal Khan, together with senior officials of ministries, divisions, departments and relevant authorities.
He added that the ECC reviewed and supported a report presented by the Ministry of Commerce on industrial competitiveness and export growth of the steel sector, aligned with the National Rate Policy 2025–30, aimed at reducing production costs and improving the competitiveness of exports.
The Committee also approved a summary of the Ministry of Commerce to present an appeal in the Supreme Court against the decision of the Superior Court of Lahore with respect to the concession of gas and concessions of liquefied natural gas rates regasified to Ghani Glass Limited. The Committee found unsustainable appeal in the light that concessionaire energy tariffs for five export -oriented sectors have already been withdrawn and are no longer available for any sector.
To support the development of skills through results -based financing, the ECC approved a government guarantee of RS1 billion for the issuance of the Pakistan Skills Impact Bonus (PSIB), as moved by the Federal Education Ministry and Professional Training.
In the housing sector, the ECC approved a marking subsidy and a risk scheme to share the financing of affordable housing, with the aim of expanding access to low -cost housing.
The Committee also urged the Ministry to develop an integral and integrated database of the housing sector in coordination with the relevant federal and provincial stakeholders, to guarantee a better guidance and an effective implementation of the scheme.
The ECC was informed by the Ministry of Industries and Production on the state of availability and price trends in the vegetable ghee and oil market. While observing the guarantee of the Ministry with respect to the levels of appropriate national actions, the Committee expressed concern about the limited step of the decrease in international prices to national consumers.
He advised vigilant monitoring to prevent price distortions and possible cartelization and emphasized the need for active coordination with the Pakistan competence commission, the National Price Monitoring Committee (NPMC) and provincial governments through the Ministry of Industries and Production.
The ECC also approved a proposal from the Ministry of Information Technology and Telecommunications for the review of radio services (RBS) charges. The Committee ordered the Ministry to guarantee the periodic review of RBS positions every three to five years, aligned with continuous economic changes and technological advances in the sector.
In addition, the Committee supported a revised composition of the Advisory Committee that supervises the release of IMT Spectrum, which is essential to improve next -generation mobile broadband services in Pakistan.
In conclusion, the ECC approved the formal declaration of rupture and recycling of ships as a recognized industry, as recommended by the Ministry of Maritime Affairs.
Last month, the government increased the price of gas by 50 percent in an apparent movement to meet the demand for the International Monetary Fund (IMF).
The ECC of the Federal Cabinet approved the increase in fixed gas charges for all consumers from July 1.
The Committee instructed the Ministry to coordinate with the Energy Division and share relevant data on energy consumption patterns in the sector, to allow a precise evaluation of the implications of applying industrial energy rates instead of existing commercial rates.
