The Economic Coordination Committee (ECC) of the Cabinet has sanctioned an additional Rs1 billion for hosting the Shanghai Cooperation Organisation (SCO) Summit, scheduled for October 15-16, 2024, in Pakistan, Business Recorder reported.

On September 11, 2024, the Ministry of Foreign Affairs (MoFA) informed the ECC that Pakistan, as the chair of the SCO Council of Heads of Government (SCO-CHG) for 2024, would host the summit.

The MoFA emphasized that hosting this significant event would reaffirm Pakistan’s vital role as a key regional player committed to peace, dialogue, and diplomacy. It would also enhance the country’s prestige and reputation for organizing such a major event after a considerable time.

The MoFA noted that hosting such an important summit necessitates detailed preparations and sufficient funding. It mentioned that it had previously received Rs1.631 billion (Non-ERE) for FY 2023-24 and Rs1.732 billion (Non-ERE) under Demand No 48 “Foreign Affairs Division” for FY 2024-25.

However, this budget allocation is intended for 14 spending units at headquarters, indicating that the MoFA cannot host the summit solely from its regular budget while covering routine operational costs for FY 2024-25.

To ensure a successful conference, the MoFA has developed a preliminary plan for hosting the SCO-CHG in Islamabad in October 2024. Following a recommendation from the Ministry of Finance, the Prime Minister approved the MoFA’s request for additional funds and directed a summary for TSG amounting to Rs1 billion to be presented to the ECC.

During discussions, the ECC was informed that Pakistan would host the SCO-CHG summit in Islamabad, with participation from 11 heads of state. While reviewing the anticipated expenses provided by the MoFA in a summary submitted on August 13, 2024, the forum questioned the rationale behind the presented estimates.

Recognizing the importance of the summit and the limited time available for preparations, the ECC agreed to approve the Rs1 billion TSG. However, the MoFA was instructed to provide detailed information regarding accommodation hiring, event management company contracts, and unforeseen expenses to the Finance Division.

The forum noted that the MoFA’s proposal was submitted rather late, effectively seeking ex-post facto approval. Ultimately, the ECC approved the proposal with instructions for the MoFA to share all relevant expenditure details with the Finance Ministry. The MoFA has since provided the necessary information to address these concerns.

Read more

ECC approves Rs20.2 bln for SAP, flood-hit farmers

Govt approves electricity surcharge to placate IMF

ECC gives nod to fixing maximum price of 49 drugs