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ECC Approves Major Security Grants, Offshore Exploration Push
ECC approves key defence grants, greenlights new offshore exploration consortium, and reviews economic reforms as Pakistan advances security, energy and governance agendas.
MH
by Muhammad Hashir
2025-11-18
ECC Approves Major Security Grants, Offshore Exploration Push

The Economic Coordination Committee (ECC) on Tuesday approved a series of major grants and policy measures aimed at strengthening Pakistan’s defence, border security, petroleum operations and economic governance.

According to the finance ministry, the meeting was chaired by Finance Minister Muhammad Aurangzeb and attended by ministers, advisers, secretaries and senior officials from relevant departments.

In a post on X, the ministry said the ECC approved “several strategic grants and reforms aimed at strengthening Pakistan’s security framework, defence capabilities, food security, and petroleum sector operations.”

Rs50bn Defence Services Allocation Among Key Approvals

A technical supplementary grant of Rs100.3 million was approved for maintenance of defence equipment used by federal civil armed forces, while Rs841.56m was cleared for enhanced border management, internal security and law enforcement.

The ECC also approved a Rs50 billion technical supplementary grant for defence services projects, marking one of the largest allocations in the meeting.

Steps for PASSCO Winding Up, Petroleum Incentives

The ECC approved the creation of a new special purpose vehicle (SPV) with initial paid-up capital of Rs1 million to proceed with the winding up of the Pakistan Agriculture Storage and Services Corporation (PASSCO).

The committee also endorsed measures intended to attract foreign participation in offshore oil and gas exploration, including licence extensions and working interest assignments.

ECC Greenlights Offshore Exploration Consortium

Pakistan approved a new offshore exploration consortium, allowing Turkish Petroleum Overseas Company (TPOC) to assume operatorship of the Eastern Offshore Block-C, Adviser to the Finance Minister Khurram Schehzad announced.

The ECC approved Pakistan Petroleum Limited’s (PPL) request to assign part of its interest to TPOC, Mari Energies, and the Oil and Gas Development Company Ltd (OGDCL). Following the restructuring:

  • PPL will retain 35%
  • TPOC will hold 25% and serve as operator
  • The remaining stakes will be held by Mari Energies and OGDCL

Schehzad said the transition would bring “valuable international offshore operating experience” and enhance Pakistan’s energy-sector capabilities. The consortium is now set to begin preparations for drilling a drill-ready prospect, a development expected to attract further foreign investment.

Pakistan has awarded bids for 23 out of 40 offshore blocks offered in October — the first offshore bidding round since 2007. Despite having a 300,000 sq km offshore zone bordering Oman, the UAE and Iran, only 18 wells have ever been drilled in Pakistan’s offshore territory.

Economic Reforms Discussed with Global Tech Delegation

Separately, Finance Minister Aurangzeb met with a high-level delegation from Dialog, an exclusive network founded by tech entrepreneurs Peter Thiel and Auren Hoffman. The delegation was led by Ambassador Ali Jehangir Siddiqui and included UK House of Lords Member Simon Stevens, Austrian MP Veit Valentin Dengler, Norwegian MP Himanshu Gulati, Jigsaw CEO Yasmin Green, Xbox-Microsoft VP Fatima Kardar and others.

The meeting focused on Pakistan’s economic reform agenda. Aurangzeb highlighted key initiatives including:

  • Tax base expansion using technology and AI
  • Bringing under-taxed sectors — real estate, agriculture, wholesale/retail — into the net
  • Energy sector restructuring and loss-reduction measures
  • Privatisation of state-owned enterprises
  • Pension reforms, including contributory schemes for new entrants
  • Governance improvements in electricity distribution companies

He reaffirmed the government’s goal of creating a competitive tariff regime and facilitating greater private-sector participation to ensure long-term economic sustainability.
Tagged:

ECC

PakistanEconomy

EnergySecurity

DefenceGrants

OffshoreExploration
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