Prime Minister Shahbaz Sharif will chair a crucial meeting of the National Economic Council (NEC) today at 3 PM at the Prime Minister’s House instead of Thursday, sources informed ProPakistani.
The high-level meeting will finalize key budgetary targets for the upcoming financial year, including the National Development Plan, the Public Sector Development Program (PSDP), and macroeconomic goals.
According to sources, the council will approve growth targets for key sectors, including agriculture, industry, and services. The meeting will also assess overall economic growth projections.
The NEC will approve a national development outlay of Rs. 3,795 billion for FY2024-25. Finance Minister Muhammad Aurangzeb is expected to brief Prime Minister Shehbaz Sharif on the budget during the meeting.
A breakdown of the proposed development allocations includes:
-
Rs. 1,000 billion for the federal government
-
Rs. 1,188 billion for Punjab
-
Rs. 887 billion for Sindh
-
Rs. 440 billion for Khyber Pakhtunkhwa
-
Rs. 280 billion for Balochistan
The development budget will also include allocations for projects under the public-private partnership framework.
The NEC is also expected to approve the outline of the upcoming federal budget and the Five-Year Development Plan, which will set the direction for economic planning until 2029.
Key economic targets to be approved include:
-
GDP growth: 4.2 percent
-
Agriculture sector growth: 4.5 percent
-
Industrial sector growth: 4.3 percent
-
Services sector growth: 4 percent
-
Export target: $35 billion
-
Import target: $65 billion
-
Remittances target: $39 billion
Representatives from both the federal and provincial governments are expected to attend.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
