ECC decides audit of Rs2.7 billion SCO Summit beautification funds

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has ordered a third-party audit of Rs2.7 billion claimed by city managers for the beautification of Islamabad for a recent SCO summit.

This decision was made during a meeting presided over by Finance Minister Muhammad Aurangzeb, where the ECC expressed surprise at the 83% increase in prices of pulses and chicken despite favorable factors at home and abroad.

The audit report will investigate the utilization of funds allocated for the beautification project, ensuring transparency and accountability.

This move demonstrates the government’s commitment to responsible spending and addressing concerns of mismanagement.

Additionally, the ECC approved a plan to increase electricity rates to charge another Rs36 billion to consumers, aiming to reduce liabilities in the power sector and enhance financial sustainability.

The Power Division reported that the circular debt stood at Rs2.393 trillion at the end of FY24, accentuating the constrained supply of electricity and slowing economic growth.

The meeting also discussed the significant price hikes in essential items like pulses, chicken, and sugar, contradicting the government’s claims of single-digit inflation.

Economic Adviser Dr. Imtiaz Ahmad noted that increasing prices were unjustified, given the decline in global prices, petrol and diesel prices, transport costs, and improved exchange rates