ECC approves grant for procurement of bullet-proof vehicles

Economic Coordination Committee of the Cabinet has approved a grant for the award of reward money to the Pakistan Under-19 Men's Cricket Team, in recognition of their outstanding performance and international achievement.

The ECC gave this approval at its meeting held in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair. 

The Chair observed that such recognition not only acknowledges sporting excellence but also serves as an encouragement for young talent representing the country with distinction at international forums.

ECC also approved a summary of the Defence Division seeking a Technical Supplementary Grant for the procurement of bullet-proof vehicles.

Meanwhile, Pakistan has launched the first-ever private-capital-funded Pakistan Skills Impact Bond (PSIB). It is backed by a guarantee from the Ministry of Finance to operationalize the inaugural one billion rupees pilot tranche of a three-year instrument to fund a wider and scalable Technical Skills Development Programme. The launch ceremony, which also featured the signing of Financing Documents including Investor and Issuer Agreements, was attended by senior government officials, development partners, private sector leaders and representatives of international organizations.

Speaking at the event, Finance Minister Muhammad Aurangzeb underscored the transformational importance of the PSIB in Pakistan’s broader economic reform agenda and human capital strategy. He described the day as an important moment focused on education and training, reiterating that Pakistan’s demographic dividend can only be realized if the country succeeds in upskilling and reskilling its youth.