Last Updated on: 11th July 2023, 01:43 pm
A meeting of the National Economic Council was held, chaired by Prime Minister Imran Khan, and attended by the four Prime Ministers and other officials.
According to the statement, the meeting approved the microeconomic framework for the fiscal year 2021-22, while the board set a growth target of 4.8% for the coming fiscal year. The growth target for agriculture will be 3.5 percent, for industry 6.5 percent, and for the service sector 4.8 percent, according to the announcement.
According to the statement, the Ministry of Planning presented the public sector development program for the fiscal year 22-2021 and was informed that the development budget for the current fiscal year based on the revised estimates would be 1.527 billion rupees.
Also Read: Moodys says Pakistan sees strong long-term GDP growth
The meeting of the National Economic Council approved the setting of a development budget of Rs 2,100,000 crore for FY 2021, while the volume of the PSDP will be Rs 900,000 crore.
According to the statement, the meeting was told that the PSDP’s focus would be on improving infrastructure, water resources and the social sector, while the focus would be on skills development, science and technology, and the development and environment.
The report states that the PSDP will meet the needs of backward areas that are lagging behind.
Adequate funding and 54 billion rupees for integrated areas have been allocated to southern Balochistan, some districts of Sindh, Gilgit-Baltistan. The briefing indicated that Rs.42 billion would be allocated to the University Commission in the social field.
Sindh’s Prime Minister Murad Ali Shah protests at the council meeting
On the other hand, Sindh’s Prime Minister Murad Ali Shah protested at the meeting. According to sources, the Sindh Prime Minister protested the province’s low development budget.
Also Read: Finance Minister expects GDP growth of 6% in the fiscal year 2022-23 If the similar pace continues
Various Sources said the Sindh chief minister decided to come up with a dissenting note on a low development budget.
