ISLAMABAD (Ahmed Mughal):- The National Economic Council (NEC) has approved annual plan for next fiscal year today.
The NEC met under the chairmanship of Prime Minister Imran Khan here today. The meeting approved GDP growth target of 4 percent. It also approved agriculture 3.5% industry 2.2% and services sector (4.8%) for financial year 2019-20.
The meeting reviewed draft of 12th Five Year Plan (2018-23). The Planning Commission informed the meeting about the main themes of the 12th Five Year Plan. It also include balanced and equitable regional development; sustainable, inclusive, job-creating export-led growth; resource mobilization and improving governance; improving social protection; ensuring food and water security, enhancing connectivity, promoting knowledge economy and Clean and Green Pakistan.
The NEC approved 12th Five Year Plan (2018-23) in principle. The meeting decided that the plan will be further fine-tuned. The NEC also directed to devised its implementation mechanism in consultation with all stakeholders.
The meeting reviewed Public Sector Development Programme (PSDP) 2018-19 and the proposed PSDP 2019-20.
The officials informed the meeting that PSDP 2019-20 focuses on new initiatives in the field of agriculture. It also about the information technology, higher education, science & technology and technical education and training.
They also told that targeted interventions will be made in the less developed districts of the country. The Govt wants to bring them at par with other parts of the country for regional equalization. Ten billion Tsunami Program, Prime Minister’s Youth Skill Development Initiative, rehabilitation of affected population residing along Line of Control, construction of Gilgit-Shandur-Chitral Road and improvement of sewerage and sanitation system of Gilgit, and development of merged districts of Khyber Pakhtunkhwa are some of the major priority areas of Public Sector Development Programme (PSDP) 2019-20.
The meeting approved National Development Outlay 2019-20 of Rs. 1.837 trillion including Federal PSDP and Provincial ADPs.
The officials also presented the progress Report of CDWP and ECNEC before the National Economic Council.
The NEC confirmed extension in powers of Special Forum for Rehabilitation and Reconstruction in FATA (erstwhile) till December 2019. PML-N Govt has established the Special Forum, under the Chairmanship of Commander 11 Corps 30.05.2016. It has established it for two years to fast track implementation mechanism for Rehabilitation and Reconstruction in erstwhile FATA.
The meeting also approved establishment of Islamabad Development Working Party headed by the Chief Commissioner ICT. The representatives from Ministries of Finance, Planning and other concerned offices will also its members . The IDWP will have power to approve development project up to Rs. 60.00 million.
The NEC also approved procedure for approval of Program for Results (PforR), Development Policy Credits (DPCs) and Financial Intermediation Programs (FIPs).
The Prime Minister Khan also addressed the meeting. He said that the country was facing unprecedented economic crisis when the present government took over. All our efforts were aimed at saving default. The economic crisis continued the Prime Minister, is also an opportunity. We can undertake and accomplish all those tasks which should have been done earlier. He said that joint efforts of the Federal Government and the Provincial Governments are needed to overcome the present economic crisis.
The Prime Minister also said that the Government has introduced Local Government system in Punjab and KP. The Govt wants to ensure empowerment of the people at grass-roots level.
The Prime Minister also reiterated his call to the provinces to allocate necessary financial resources, as per the commitments made earlier, for the develop.