ISLAMABAD: The National Economic Council (NEC) proposed the Annual Development Plan (ADP) for the upcoming fiscal year (2023-24) with a total outlay of Rs2.709 trillion.
“The total national outlay [Rs2,709 billion] contains the development budget of Punjab and Khyber Pakhtunkhwa for only four months [due to caretaker set up in the province), but if their full budget is included in the ADP, it will exceed the figure of Rs 3 trillion,” Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal said in the post-NEC meeting media talk.
The NEC meeting was chaired by Prime Minister Shehbaz Sharif.
Under the ADP, the minister said the federal government would spend Rs1,150 billion under the Public Sector Development Programme (PSDP 2023-24) and the provinces would allocate Rs1,559 billion to execute different development projects.
He said Rs1,150 billion under the PSDP were the highest-ever allocation made in the history of the country, terming it a ‘milestone achievement’ of the incumbent government despite severe financial challenges.
