Islamabad (Web Desk): The National Economic Council (NEC) has unanimously approved six key agenda items, including a comprehensive national development budget of Rs4,224 billion for the upcoming fiscal year 2025-26.
The approval came during a meeting held in Islamabad on Wednesday, chaired by Prime Minister Shehbaz Sharif and attended by the Chief Ministers of Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.
Out of the total development budget, 1,000 billion rupees have been allocated for federal development initiatives, while Rs2,869 billion will be distributed among the provinces for their respective development projects.
During the meeting, the NEC also gave the green light to the macroeconomic framework and targets for the upcoming fiscal year. The council instructed relevant federal ministries, provincial governments, and public institutions to collaborate closely with the Ministry of Planning to ensure the successful implementation of the proposed Annual Development Plan 2025–26.
The approved projects will focus on priority sectors such as healthcare, education, infrastructure, water resources, and housing.
In addition, the council approved the 13th Five-Year Development Plan along with the "Uraan Pakistan" strategic framework.
A third-party evaluation report on the previous year’s National Development Program was also presented. Based on its findings, the council decided that future development planning should take the report’s recommendations into account.
The NEC concluded by approving a GDP growth rate of 2.7% for the outgoing fiscal year and setting a target of 4.2% growth for the upcoming year.