govt approves rs13bn
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Govt approves Rs13bn relief for PTV

ByJustpaste.in

ISLAMABAD: The federal government has approved a Rs13 billion supplementary grant to help Pakistan Television Corporation (PTV) overcome its worsening financial difficulties, while also authorizing sovereign guarantees worth Rs34.6 billion for the Sialkot–Kharian Motorway project.

The decisions were made during a virtual meeting of the Economic Coordination Committee (ECC), chaired by Finance Minister Muhammad Aurangzeb. The Ministry of Information and Broadcasting had requested Rs20 billion to cover PTV’s salaries, allowances, utility bills, and other essential operational expenses. However, the ECC approved Rs13 billion, which will be released in quarterly installments of approximately Rs3.25 billion.

PTV, which operates under the Pakistan Television Corporation Act and is headed by Information Secretary Ashfaq Ahmed Khokhar as its Managing Director, has been facing mounting financial challenges. According to the Ministry of Finance’s latest report, the broadcaster’s revenue declined by 22 percent during fiscal year 2024-25, falling to Rs14.3 billion. The corporation also recorded a net loss of Rs639 million, placing it among Pakistan’s 20 largest loss-making state-owned enterprises.

The ECC also cleared sovereign guarantees totaling Rs34.6 billion for the 69-kilometre Sialkot–Kharian Motorway project. The motorway is being developed under the Public-Private Partnership (PPP) model and was awarded in September 2021 to Sialkot Kharian Infrastructure Management (Private) Limited, a subsidiary of the Frontier Works Organization (FWO).

The approved guarantees include Rs17.4 billion for Capital Viability Gap Funding, Rs10.3 billion to facilitate commercial borrowing, and nearly Rs7 billion for Operational Viability Gap Funding. In addition, the Ministry of Finance confirmed that the ECC authorized Rs27.62 billion in fresh sovereign guarantees and approved the rollover of Rs6.94 billion in existing operational viability funding to help the project achieve financial close under its revised financing structure.

The government had already revised the PPP agreement for the motorway in February this year, requiring the concessionaire to complete financial arrangements within six months. Rising construction costs, inflation, higher interest rates, and design modifications prompted a restructuring of the project’s financial framework.

As part of the revised agreement, the concession period has been extended from 25 years to 29 years. During the first year of operations, toll rates are expected to start at Rs4.1 per kilometre for cars, around Rs10 for minibuses, Rs13.7 for large buses, and Rs23 per kilometre for heavy trucks.

The Ministry of Finance estimates that new sovereign guarantees worth Rs683 billion will be issued between April 2026 and June 2027 for various public projects and state-owned entities. Pakistan’s total sovereign guarantees currently stand at Rs4.4 trillion and are projected to exceed Rs5 trillion by June next year. More than Rs2.4 trillion of these guarantees support the power sector, while Rs895 billion have been allocated for commodity procurement and storage operations.

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