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NEC Approves Rs 1.837 Trillion Development Budget

NEC Approves Rs 1.837 Trillion Development Budget

NEC Approves Rs 1.837 Trillion Development Budget
NEC Approves Rs 1.837 Trillion Development Budget

Prime Minister Imran Khan on Wednesday (May 29) while chairing meeting of the National Economic Council in Islamabad emphasized that joint efforts of the federal and the provincial governments are needed to overcome the unprecedented economic crisis that the country is facing.

The meeting reviewed Annual Plan 2018-19 and the proposed Annual Plan 2019-20. It approved GDP growth target of 4% along with sectoral growth of agriculture (3.5%) industry (2.2%) and services sector (4.8%) for next financial year. The meeting approved National Development Outlay 2019-20 amounting to 1.837 trillion rupees including Federal PSDP and Provincial Annual Development Programmes.

The NEC meeting reviewed draft 12th Five Year Plan i.e. 2018-23. It was informed that main themes of the 12th Five Year Plan include balanced and equitable regional development; sustainable, inclusive, job-creating export-led growth; resource mobilization and improving governance; improving social protection; ensuring food and water security, enhancing connectivity, promoting knowledge economy and Clean and Green Pakistan.

Govt. All Set to Present Federal Budget Next Month
The NEC approved 12th Five Year Plan (2018-23), in principle. It was decided that the plan will be further fine-tuned, especially its implementation mechanism, in consultation with all stakeholders. The meeting reviewed Public Sector Development Programme (PSDP) 2018-19 and the proposed PSDP 2019-20.

Ten billion Tsunami Program, Prime Minister’s Youth Skill Development Initiative, rehabilitation of affected population residing along Line of Control, construction of Gilgit-Shandur-Chitral Road and improvement of sewerage and sanitation system of Gilgit, and development of merged districts of Khyber Pakhtunkhwa are some of the major priority areas of Public Sector Development Programme (PSDP) 2019-20.

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