ISLAMABAD: The National Economic Council (NEC) on Wednesday approved a development budget of Rs1837 billion for the federation and provinces for the next fiscal year.
Prime Minister Imran Khan presided over a meeting of the NEC that approved the 12th five-year plan, read a press statement issued afterwards.
The council approved 4 per cent GDP rate, 3 per cent increase in agriculture sector, 2.2 per cent in industry and 4.8 per cent in services sector.
On the occasion, Khan said when his party came into power, the country was facing worst economic crisis of its history and all their efforts were meant for saving it from being defaulted.
“We are doing all those things that needed to be done in the past,” he said, stressing the need for joint efforts by the centre and provinces to steer the country out of the economic crisis.
He also urged the provinces to allocate the share of erstwhile FATA from their share of the National Finance Commission (NFC) Award.
