The meetings of the National Accounts Committee (NAC) and the Annual Plan Coordination Committee (APCC) have been postponed due to which the budget process for the next financial year is further delayed.
Sources told ProPakistani that Secretary Planning was supposed to convene the National Accounts Committee (NAC) on Monday but it has now been postponed to May 24.
In the NAC meeting, the Planning Commission was supposed to approve GDP and other economic indicators for the current and next fiscal years.
The provisional number for this year is estimated in the range of negative 0.8 to 1 percent. On the other hand, sources said that the government is likely to set next year’s 2024-25 GDP target at around 3 percent.
The meeting of APCC scheduled for tomorrow has now been rescheduled to June 2, 2023.
The size of the federal development budget for the next financial year is estimated to be Rs. 900 billion even though the Finance Division has indicated Rs. 700 billion in public sector development funds (PSDP) for the new fiscal year.