NEC approves annual developmental budget for fiscal year 2017-18


-File Photo

ISLAMABAD: National Economic Council has approved Annual Development Plan for next financial year 2017-18. The approval was given in a meeting presided over by Prime Minister Muhammad Nawaz Sharif on Friday.

Addressing the National Economic Council meeting, PM Nawaz said Pakistan’s economic indicators have significantly improved and this is acknowledged by international financial rating institutions, adding that, the GDP growth rate of 5.28% for the current financial year is commendable.

The Premier claimed that Pakistan is now among the fastest growing economies of the world. He also assured that Federal and Provincial governments are working in harmony for development of the country.

He said development should not be politicized as it is for prosperity of every Pakistani. The PM informed the participants of the meeting that China-Pakistan Economic Corridor projects are being completed on fast track basis.

He said the government is focusing on energy projects. He said not only power supply is priority of the government but it is providing affordable power supply for consumers.

PM said the government is also focusing on a balanced mix of sources for energy including LNG, Coal, Hydel, Solar and Wind.

Describing infrastructure as key to development, he said the government is concentrating on  roads and communication networks.

The Prime Minister said the Government has adopted people centric approach  for development planning.

Prime Minister of Azad Kashmir, Governor KPK and Chief Ministers of Punjab, Sindh, KPK, Balochistan and Gilgit-Baltistan attended the meeting besides federal and provincial ministers concerned.