ISLAMABAD: The National Economic Council, headed by Prime Minister Nawaz Sharif, finalised the development budget of financial year 2017/18 on Friday.
According to sources, the federal development budget has been set at Rs1,001 billion and the provinces’ development budget at Rs1,112 billion.
Moreover, the upcoming year’s growth rate has been set at 6% of the Gross Domestic Product (GDP).
Earlier, Sharif said development [of the country] should not be politicised as it is for the prosperity of every citizen.
Addressing participants of the meeting he said that the federal and provincial governments are working in harmony for the country’s development and should continue on this path.
“Pakistan is now among the fastest growing economies of the world,” the prime minister stated.
Pakistan’s economic indicators have significantly improved and this is acknowledged by international financial rating institutions, said the premier, adding that the GDP growth rate of 5.28% for the current financial year is commendable.
He said during the recent Belt and Road Forum in China, all the chief ministers accompanied him which showed the world that Pakistan unanimously stands for development.
Talking about power issues, he said the government is also focusing on a balanced mix of sources for energy including LNG, coal, hydel, solar and wind, he stated.
Describing infrastructure as key to development, Sharif said the government is concentrating on establishing roads and communication networks.
He also informed that the present government has increased the provincial share in the Public Sector Development Programme (PSDP) for the next financial year three times more as…