Sources said that the NEC meeting has been convened with Prime Minister in the chair with three agenda items: (i) review of annual development plan for the current fiscal year and proposed annual plan for 2017-18; (ii) review of PSDP for the outgoing fiscal year and proposed PSDP for 2017-18 and; (iii) consideration of progress report of CDWP as well as ECNEC from April 1, 2016 to March 31, 2017.
Minister for Planning, Development and Reform Ahsan Iqbal told media that Planning Commission would propose over Rs 1 trillion federal PSDP while provinces have suggested Rs 1.1 trillion development outlay for the next fiscal year to the Annual Plan Co-ordination Committee (APCC). The APCC is scheduled to meet today (Wednesday). Asif Sheikh of Planning Commission said that the Finance Ministry has so far shown its consent to provide Rs 866 billion for federal PSDP for the next fiscal year. He said that a consolidated outlay for the next fiscal year would be around Rs 2.1 trillion against Rs 1.675 trillion for the current fiscal year. He added, "An allocation of Rs 625 billion for the next year development budget has been proposed by Punjab and Rs 220 billion by Khyber Pakhtunkhwa government." He further stated that allocation for water and power sector may be around Rs 400 billion.
He said, "Rs 866 billion figure includes Rs 100 billion for temporarily dislocated persons and security enhancement, Rs 20 billion for Prime Minister's Youth and Hunarmand Programme and Rs 25 billion for GIDC in the budget for the current fiscal year." National Accounts Committee (NAC) meets today (Wednesday) to review projected growth target on the basis of the latest economic data of various sectors of the economy against 5.7 per cent GDP target fixed in the budget for the current fiscal year.
The sources said the meeting would review growth targets of agriculture, industrial and services sectors which would be placed before the NEC meeting to be presided over by Prime Minister Nawaz Sharif and attended by chief ministers and other members to consider the annual plan and PSDP.
Copyright Business Recorder, 2017