Govt approves development outlay of Rs2.1tr for next fiscal year
ISLAMABAD: The National Economic Council (NEC) has approved the total development outlay for the next financial year 2,100 billion rupees including 900 billion rupees for the Public Sector Development Program (PSDP).
The council, which met in Islamabad with Prime Minister Imran Khan in the chair, approved the Macroeconomic Framework for Annual Plan 2021-22.
The meeting approved the Gross Domestic Product growth projections for the financial year 2021-22 including the proposed growth target of 4.8 per cent.
The NEC was informed that with the operationalization of the Public Private Partnership Authority, a number of projects are also being expeditiously processed for implementation.
These include Sukur-Hyderabad Motorway and Sialkot-Kharian Motorway, which are at an advanced stage.
Other major projects such as Karachi Circular Railway, KPT-PIPRI Freight Corridor, Kharian – Rawalpindi Motorway, Balkasar – Mianwali Road, Quetta – Karachi – Chaman Highway are also likely to be launched during the year.
Addressing the meeting, the prime minister emphasized on increasing the pace of implementation of development projects to ensure that the gains made through stabilization of the economy could be translated into economic growth resulting in the well-being of the people.