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August 6, 2025,Islamabad: The Economic Coordination Committee (ECC) of the Cabinet, chaired virtually by Finance Minister Senator Muhammad Aurangzeb, held a session today to review and approve several key economic proposals, including incentives for electric vehicles, remittance reimbursement, and financial support for higher education.
During the meeting, the ECC approved a summary presented by the Ministry of Industries and Production regarding the launch of a subsidy scheme to promote electric bikes and rickshaws/loaders across Pakistan. The initiative aims to encourage sustainable transport solutions, with Rs 9 billion allocated for FY2025-26. The scheme includes the distribution of 116,000 electric bikes and 3,170 electric rickshaws/loaders in two phases, with 40,000 e-bikes and 1,000 rickshaws expected to roll out initially. Top-performing students at government colleges will also receive free electric bikes under the plan.
The meeting also approved a Technical Supplementary Grant (TSG) of Rs 30 billion to clear outstanding claims from the previous fiscal year under the Telegraphic Transfer Charges Incentive Scheme, which totaled Rs 58.26 billion. The ECC directed the Finance Division to coordinate with the State Bank of Pakistan (SBP) to finalize payment procedures and assess the overall viability and impact of the Pakistan Remittance Initiative. A comprehensive report is expected by mid-September following a detailed analysis due by the end of August.
In another key decision, the ECC granted in-principle approval for a Rs 2 billion bailout package for Quaid-i-Azam University (QAU). The release of funds is subject to the submission of a detailed financial self-sustainability plan by QAU and the Higher Education Commission (HEC), outlining how the university will reduce future reliance on federal support.
The session was attended by Federal Ministers Sardar Awais Leghari (Power), Ali Pervaiz Malik (Petroleum), and Rana Tanveer Hussain (National Food Security), along with senior officials from various ministries and departments.
