ECC okays industrial estate on Pakistan Steel Mills land
0
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved the establishment of an industrial estate on Pakistan Steel Mills (PSM) land and sanctioned a Rs2.83 billion grant to the Pakistan Television Corporation (PTVC) for upgrading its English news channel.
The meeting, presided over by Finance Minister Muhammad Aurangzeb, also abolished the requirement of health quarantine certificates for leather exports and approved an unspecified amount for the Ministry of Climate Change to participate in the COP-30 climate summit in Brazil later this year.
An official statement said the removal of health quarantine certificate requirements on the import and export of leather was aimed at facilitating the industry and improving its competitiveness in global markets.
The ECC further approved the development of an industrial estate on PSM land in Karachi, aimed at boosting industrial activity, generating employment, and attracting investment.
The official statement did not disclose financial or operational details. However, informed sources said the project would be implemented under directives from the Special Investment Facilitation Council (SIFC). The estate would utilise about 4,800 acres of PSM land, with options for investors to lease, purchase or obtain licences for industrial use. In the first phase, over 1,500 acres are expected to be opened for private investment by the end of the current year.
Scraps leather export health certificate requirement; approves Rs2.83bn for PTV English
The ECC also approved a technical supplementary grant of Rs2.83bn for PTVC to enhance the broadcast quality of its English news channel and expand its reach to international audiences.
The committee directed the Ministry of Information and Broadcasting to prepare a comprehensive business plan to make the channel financially self-sustaining and reduce reliance on federal grants.
Despite decades of commercial operations in entertainment and sports, PTVC continues to depend on government funding to sustain itself.
Last month, the cabinet committee on state-owned enterprises had expressed concern over the broadcaster’s long-standing lack of audited accounts and directed it to present a viable, self-sustaining business strategy.
Published in Dawn, August 14th, 2025
Khaleeq Kiani is an Islamabad-based reporter for Dawn, specializing in political economy, governance, business, finance, macroeconomics and energy. He can be found on X at @khaleeqkiani.
