M-12 project: ECC approves Rs27.62bn sovereign guarantees issuance
The ECC approved Rs27.62 billion in sovereign guarantees for the Sialkot-Kharian Motorway and quarterly grants for Pakistan Television Corporation, while also seeking a PTVC sustainability plan.
- Sovereign guarantees for the Sialkot-Kharian Motorway.
- Financial support and sustainability plan for PTVC.
- Build-Operate-Transfer model for infrastructure projects.
ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) has approved the issuance of Sovereign Guarantees amounting to Rs27.62 billion for the construction of the Sialkot (Sambrial) – Kharian Motorway (M-12) Project on a Build-Operate-Transfer (BOT) basis and roll-over of already issued Operational VGF amounting to Rs6.944 billion
Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired the ECC meeting held at the Finance Division on Tuesday.
The ECC considered a summary submitted by the Ministry of Information and Broadcasting regarding the release of a Technical Supplementary Grant (TSG) in favour of Pakistan Television Corporation (PTVC) for the financial year 2026–27.
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The committee approved the release of funds quarterly at Rs3.25 billion per quarter to enable PTVC to meet its operational and essential running expenses.
The committee further directed the ministry to bring the matter back to the ECC within two months, along with a comprehensive financial sustainability plan for PTVC.
The ECC also considered a summary submitted by the Ministry of Communications and approved the issuance of Sovereign Guarantees amounting to Rs27.62 billion for the construction of the Sialkot (Sambrial) – Kharian Motorway (M-12) Project on a Build-Operate-Transfer (BOT) basis and roll-over of already issued Operational VGF amounting to Rs6.944 billion.
The guarantees will facilitate the Concessionaire in achieving financial close for the Public-Private Partnership (PPP) project in line with the approved fresh financing structure.
The meeting was attended by Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Investment Qaiser Ahmed Sheikh, Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Federal Minister for Petroleum Ali Pervaiz Malik, and Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, along with federal secretaries and senior officials from the relevant ministries, divisions, and regulatory authorities.
Copyright Business Recorder, 2026
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