The Economic Coordination Committee of the Cabinet has approved key public sector financing measures.

The ECC, which met in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair, approved the release of a Technical Supplementary Grant in favour of Pakistan Television Corporation for the current financial year.

The Committee approved the quarterly release of funds amounting to 3.25 billion rupees per quarter to enable PTVC to meet its operational and essential running expenses.

The Committee also approved the issuance of Sovereign Guarantees amounting to 27.62 billion rupees for the construction of the Sialkot (Sambrial)-Kharian Motorway (M-12) Project on a Build-Operate-Transfer (BOT) basis and the rollover of already issued Operational VGF amounting to 6.944 billion rupees.

The guarantees will facilitate the Concessionaire in achieving financial close for the Public-Private Partnership project in line with the approved fresh financing structure.