NEC Approves Rs 800 Billion PSDP and Growth Target of 5% for FY23
The National Economic Council (NEC) has approved the annual targets for the upcoming fiscal year 2022-23. The NEC, presided over by Prime Minister Shehbaz Sharif, also approved various sectoral growth targets for FY23 including agriculture, industries and services.
The National Economic Council (NEC) of Pakistan has approved a development budget of Rs. 900 billion for the ongoing fiscal year 2021-22. 60 percent of the total development budget would be spent on ongoing projects, while the rest would be for new schemes.
The prime minister said that the government was fully cognizant of the problems posed due to the international economic environment and the country’s precarious economic situation. He said that it was the joint responsibility of the center and the provinces to play their part in balanced regional development.
The Council also approved various revised development projects approved under the Central Development Working Party (CDWP), Executive Committee of the National Economic Council (ECNEC), and Divisional Development Working Party (DDWP).