The Economic Coordination Committee (ECC) has approved a Rs. 4 billion Technical Supplementary Grant (TSG) to finance Pakistan’s defence in multiple international arbitration cases filed by independent power producers (IPPs) and major utility shareholders.

The approval came during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb after the committee considered a summary submitted by the Power Division.

According to the Finance Division, the grant will cover expenses related to international arbitration proceedings initiated against Pakistan by IPP developers and major utility shareholders.

In a separate decision, the ECC approved a proposal to transfer pension payment responsibilities for retirees of closed Generation Companies (GENCOs) to their respective pension-disbursing Distribution Companies (DISCOs), ensuring the continued disbursement of retirement benefits.

The committee also considered several other agenda items, including export promotion measures, energy-related proposals, and budget estimates for the Employees’ Old-Age Benefits Institution (EOBI).