Economic Coordination Committee approves Rs13bn lifeline for struggling PTV
ISLAMABAD: As the new fiscal year began, the Economic Coordination Committee (ECC) of the cabinet on Tuesday approved a Rs13 billion supplementary grant for the financially struggling Pakistan Television Corporation (PTVC) and a bailout package of about Rs35bn for the Sialkot-Kharian Motorway project. A meeting of the ECC, presided over by Finance Minister Muhammad Aurangzeb, was informed that…
The Economic Coordination Committee (ECC) has approved a Rs13 billion supplementary grant for the financially struggling Pakistan Television Corporation (PTVC) and a bailout package of about Rs35bn for the Sialkot-Kharian Motorway project. The PTVC received a quarterly payment schedule of Rs3.25bn each quarter, allowing it to meet operational and essential running expenses.
Meanwhile, the ECC approved Rs27.62bn sovereign guarantees for the Sialkot-Kharian Motorway, which is being constructed under a build-operate-transfer model. The approval also includes the rollover of Rs6.944bn in operational viability gap funding for the project.
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