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ECC approves $17.16 million grant for Roosevelt Hotel after lease termination - Profit by Pakistan Today


ECC approves $17.16 million grant for Roosevelt Hotel after lease termination - Profit by Pakistan Today

Rs20 billion approved for law and order, Rs4 billion for Defence Complex compensation; Committee also sanctions phased funding for Frontier Corps operations and urban security

The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved multiple funding measures to address financial, security, and administrative priorities.

The meeting, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, included approvals for the Roosevelt Hotel in New York, law and order maintenance, and compensation for land acquired for the Defence Complex in Islamabad.

The ECC approved $17.16 million as a Technical Supplementary Grant (TSG) for the Roosevelt Hotel, following the termination of its lease agreement with New York City. The grant is intended to cover urgent financial requirements while the Ministry of Defence revisits and reconfirms estimates for final allocation.

For domestic security, the ECC approved Rs20 billion as a TSG for maintaining law and order across the country. The Finance Division will release the funds in phases upon request, in consultation with the Ministry of Interior and Narcotics Control.

An additional TSG of Rs174.8 million was allocated specifically for law enforcement operations by the HQ Frontier Corps KP (N) in Peshawar. These approvals aim to ensure the continuity of policing and security operations while supporting ongoing administrative functions.

The committee also addressed compensation for residents affected by land acquisition for the Defence Complex in Islamabad. A TSG of Rs4 billion will be arranged by the Finance Division to provide cash compensation, with the remaining requirements to be met by the Capital Development Authority (CDA).

ECC members emphasized that these grants are targeted at urgent needs, including the financial stabilization of state assets abroad, enhanced law enforcement capabilities, and fair compensation for affected citizens. The phased disbursement mechanism is designed to ensure transparency, accountability, and alignment with administrative priorities.

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