ISLAMABAD: The National Economic Council (NEC) has granted its approval to the annual development program, with a total volume of Rs2,709 billion for the upcoming budget, as reported by a private news channel. The NEC meeting was chaired by Prime Minister Shehbaz Sharif.
During the meeting, it was decided that the Centre would allocate Rs950 billion under the Public Sector Development Programme (PSDP). Additionally, the proposed total outlay for the provinces’ development program amounts to Rs1,559 billion. Furthermore, an allocation of Rs250 billion has been approved under public-private partnership for the execution of development projects across the country.
National Economic Council Reviews Economic Condition
The NEC constituted under Article 156 of the Constitution, is chaired by the prime minister, with the provincial chief ministers and nominated members as its members. The NEC serves as a key constitutional body responsible for reviewing the overall economic condition of the country, advising the federal and provincial governments, and formulating plans related to financial, commercial, social, and economic policies.
One of the primary objectives of the NEC, as outlined in Article 156, is to ensure balanced development and regional equity while being guided by the Principles of Policy set out in Chapter 2 of Part-II of the Constitution.
