NEC approves development outlay worth Rs2.1tr for FY2021-2022


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ISLAMABAD: Asad Umar, Minister for Planning and Development on Tuesday informed that National Economic Council (NEC) has approved the development outlay worth Rs2.1tr for FY2021-2022.

The federal minister was of the view that the approved development outlay marks an increase of 36.4pc as compared to the development budget of Rs1.527tr of the current fiscal year.

The minister further highlighted that out of the total development budget Rs900bn has been set aside for Public Sector Development Programme (PSDP) while Rs1.202tr has been suggested for provinces.

Highlighting the budgetary allocations, the minister told that the government has earmarked Rs244bn for laying road infrastructure of 3261km in the country.

The minister was also of the view that government will build large dams as per its commitment under National Water Policy.

 

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NEC expected to approve development portfolio of Rs2.1tr


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ISLAMABAD: Prime Minister (PM) Imran Khan will chair the meeting of the National Economic Council (NEC) today (Monday) to review the development portfolio for the next financial year.

As per the media reports, it is expected that NEC will approve the development portfolio of Rs2.135tr for the upcoming Fiscal Year (FY) 2021-2022.

If approved, the consolidated development budget of the federal and provincial governments will be 61pc more than the allocation of Rs1.324tr of the current fiscal year.

The NEC is also likely to set the GDP growth rate at 4.8pc for the next financial year as compared to the growth rate of 3.94pc of the current year.

For approval, the federal Public Sector Development Programme (PSDP) of Rs900bn for the upcoming FY2021-2022 will also be presented in the meeting.

The Annual Plan Coordination Committee (APCC) has already okayed the PSDP for FY2021-2022.

 

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