ISLAMABAD, Pakistan: The National Economic Council (NEC) has approved development outlay of Rs1.514 trillion and fixed a growth domestic product (GDP) growth rate of 5.5 percent for the next financial year.
The approval was given at its meeting in Islamabad on Monday with Prime Minister Nawaz Sharif in the Chair.
The development outlay includes Rs700 billion as the Federal Public Sector Development Programme PSDP and Rs814 billion as the provincial Annual Development Programme (ADP).
During the meeting, the growth target for the next financial year for agriculture sector was set at 3.9 percent and for manufacturing sector 6.1 percent. Likewise, the export target for the year was set as $25.5 billion.
The NEC meeting was attended by chief ministers of all four provinces; Governor Khyber Pakhtunkhwa, Chief Minister Gilgit-Baltistan, Ministers for Finance, Planning and development, Water and Power, Finance ministers of all provinces, as well as Azad Jammu and Kashmir Secretaries for the ministries of Finance and Planning and other senior government officials.