Islamabad (Web Desk): The National Economic Council (NEC) on Wednesday gave its approval to a national development programme worth Rs3.669 trillion for the fiscal year 2026-27 and fixed the country's economic growth goal at 4 percent for the next financial year.
The decision was taken during an NEC meeting chaired by Prime Minister Shehbaz Sharif.
Under the approved allocations, Rs1 trillion has been set aside for the Federal Public Sector
Development Programme (PSDP), while provincial governments will receive Rs2.218 trillion for their Annual Development Programmes (ADPs). Another Rs451 billion has been allocated for projects undertaken by State-Owned Enterprises (SOEs).
The council also endorsed a revised GDP growth estimate of 3.7 percent for FY2025-26. It directed federal ministries, provincial administrations, and public institutions to maintain close coordination with the Ministry of Planning to ensure the successful achievement of the objectives laid out in the Annual Plan 2026-27.
During the meeting, the council examined the performance of the Central Development Working Party (CDWP) and the Executive Committee of the National Economic Council (ECNEC) covering the period from April 2025 to March 2026.
Members were informed that the CDWP approved 116 development schemes with a total cost of Rs316 billion during the review period. Meanwhile, ECNEC cleared 72 projects carrying a combined value of Rs5.117 trillion.
The meeting was also presented with a report on the oversight and assessment of major development initiatives undertaken during FY2025-26. Officials informed participants that a new monitoring and evaluation framework had been introduced, including a pilot programme that will use Artificial Intelligence (AI) to review development projects.
The NEC further approved 11 national economic development missions under the Uraan Pakistan initiative and instructed the Ministry of Planning and Development to formulate a detailed implementation strategy in collaboration with relevant ministries and provincial governments.
Participants were additionally briefed on updated economic indicators for FY2025-26. According to the briefing, spending under the federal PSDP during the outgoing fiscal year reached Rs820 billion, while provincial ADPs accounted for Rs2.938 trillion. Programmes linked to SOEs received expenditures of Rs355 billion.
Speaking at the meeting, Prime Minister Shehbaz Sharif thanked all participants for unanimously endorsing the council's agenda, saying that agreement on important national matters would further reinforce the federation.
He stated that the spirit of cooperation and solidarity among the provinces would continue to serve as a driving force behind Pakistan's development journey and economic advancement.
The prime minister also appreciated the support extended by all four chief ministers during a challenging economic phase and commended the government's economic team for its role in achieving macroeconomic stability.
Participants, in turn, praised the prime minister for maintaining economic balance despite the negative effects of recent tensions in the Gulf region on the global economy. They also acknowledged his diplomatic efforts aimed at easing regional strains.
Discussing the country's major challenges, PM Shehbaz identified rapid population growth as a significant concern.
He stressed the need to improve healthcare services, address child malnutrition—particularly stunting—bring out-of-school children into the education system, and create greater employment opportunities for young people.
PM Shehbaz noted that the government was focused on providing youth with technical and vocational training and reaffirmed that an export-oriented economic model would remain a key pillar of Pakistan's long-term growth strategy.
The prime minister also called for stronger alignment between federal and provincial development programmes, emphasizing that public spending should be directed towards national priorities and sustainable economic goals.
Expressing confidence in the country's future, he said that united efforts at all levels would enable Pakistan to achieve lasting economic growth, prosperity, and self-reliance.
The meeting was attended Deputy Prime Minister and Foreign Minister Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Planning Minister Ahsan Iqbal, Minister for Economic Affairs Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Adviser to the Prime Minister Rana Sanaullah, Sindh Chief Minister Murad Ali Shah, Khyber Pakhtunkhwa Chief Minister Muhammad Sohail Afridi, Balochistan Chief Minister Sarfraz Bugti, Punjab Senior Minister Maryam Aurangzeb, as well as other members of the National Economic Council.