Prime Minister (PM) Imran Khan attended a meeting of the National Economic Council (NEC) and settled the gross domestic product (GDP) growth at 4.8% for the next fiscal year which will be a challenge for the government to achieve post-pandemic situation.
Along with the approval of GDP growth projection for the next fiscal year, the council also approved the macroeconomic framework for the annual plan 2021-22.
The meeting was attended by chief ministers of all provinces and other related officials along with Imran Khan.
NEC proposed sectoral growth of 3.5% for agriculture, 6.5 % for the industrial sector, and 4.7 % for the services sector.
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Presenting Public Sector Development Programme (PSDP) for 2021-22, Ministry of Planning Development and Special Initiatives mentioned that the total development outlay of the ongoing year is Rs 1,527 billion while it would be over Rs2,100 billion in the next year including Rs 900 billion under PSDP.
Moreover, Rs 244 billion for transport & communications, Rs 118 billion for energy, Rs 91 billion for water resources, Rs 113 billion for the social sector, Rs 100 billion for regional equalization, and Rs 31 billion for science & technology & Information technology (IT).
During the outgoing fiscal year, the PSDP target was Rs 650 billion.
In addition to it, it has been proposed to allocate Rs 250 billion under PSDP to be overseen by the federal government, Rs 565 billion for the infrastructure sector, Rs 30 billion for the health sector, Rs 50 billion for the education sector, and Rs 244 billion will be for the transport sector.
Further, several projects including those under Public-Private Partnership (PPP) mode are in the process of completion, NEC told.
These projects including Sukur-Hyderabad Motorway, Sialkot-Kharian Motorway, Karachi Circular Railway (KCR), KPT-PIPRI Freight Corridor, and others are going to be inaugurated this year.
Concluding NEC meeting, the prime minister said that if the government is able to achieve GDP growth and complete all development projects timely, it will boost the economy of the country.