Pakistan's ECC approved a PKR 100bn finance facility for PSO and security funding for Reko Diq

Pakistan's Economic Coordination Committee approved the continuation of a PKR 100 billion syndicated running finance facility for Pakistan State Oil and sanctioned funds for security arrangements at the Reko Diq mining project at a meeting chaired by Finance Minister Senator Muhammad Aurangzeb.

The decisions, announced by the Finance Division, are aimed at supporting energy sector liquidity and advancing strategic investment initiatives. The meeting came ahead of the federal budget for fiscal year 2026-27.

What did the ECC approve for PSO and the energy sector?

The committee approved a summary from the Petroleum Division allowing PSO to continue syndicated running finance facilities with a ceiling of PKR 100 billion, aimed at easing liquidity constraints and supporting oil supply chains.

The ECC also endorsed a revised framework for a Deed of Settlement with Cnergyico PK Limited under the Pakistan Oil Refining Policy 2023. That settlement targets late payment surcharge issues and is intended to facilitate refinery upgradation and future investment.

What funds were approved for the Reko Diq mining project?

The ECC approved PKR 413.9 million for security charges associated with Reko Diq, one of Pakistan's largest planned mining developments, as part of a series of grants sought by the Ministry of Interior and Narcotics Control.

The committee also approved a Petroleum Division summary relating to Reko Diq's overall development plan. Pakistan and Barrick Mining Corporation have been reviewing security arrangements for the project in recent days.

What other major spending did the ECC sanction?

The committee approved PKR 10.15 billion for the Pakistan Navy's Hangor Project under the Rafale Aircraft and Force Development Package 2030.

A PKR 7.03 billion Technical Supplementary Grant was sanctioned for the Sustainable Development Goals Achievement Programme to ensure continuity of development projects and avoid cost overruns.

The ECC also approved PKR 8.66 billion for the Karachi and Hyderabad Urban Infrastructure Development Packages and PKR 2.84 billion for Khyber Pakhtunkhwa under the same programme through the Pakistan Infrastructure Development Company Limited.

What security and public safety funds were approved?

Interior Ministry proposals approved at the meeting included PKR 1.88 billion for expanding the Safe City Islamabad project, PKR 800 million for fast patrol boats and related infrastructure for the Pakistan Coast Guards, PKR 528 million for the Pakistan Land Ports Authority, and PKR 150 million for the National Counter Terrorism Authority.

The ECC also approved PKR 241 million in compensation for those affected by the suicide bombing at Imam Bargah Khadijah-tul-Kubra in Islamabad's Taralai area, and PKR 692.9 million for security arrangements during the Islamabad Peace Talks.

What other allocations were made at the ECC meeting?

The committee released PKR 733 million to Pakistan Television Corporation to cover salary requirements for June 2026. It also approved PKR 183.5 million for the Special Communication Organization to install telecom infrastructure in District Shigar, Gilgit-Baltistan.

Additional approvals included PKR 1.3 billion for the modernisation of Pakistan Mint and PKR 4.38 billion for the Government of Gilgit-Baltistan to support current expenditures and priority initiatives.