ISLAMABAD, June 04 (APP): A meeting of the National Economic Council (NEC) chaired by Prime Minister Muhammad Shehbaz Sharif on Wednesday approved the Annual Development Plan for 2025–2026.
It approved a national development budget of Rs. 4,224 billion for 2025–2026, with Rs. 1,000 billion allocated for the federal and Rs. 2,869 billion for the provincial development expenditures.
It unanimously approved the 6-point agenda of the National Economic Council.
The meeting approved the macroeconomic framework and targets for fiscal year 2025–2026.
The National Economic Council directed relevant ministries, provinces, and government institutions to work closely with the ministry of planning to achieve the targets set in the proposed 2025–2026 annual plan.
Priority sectors in these development projects would include health, education, infrastructure, the water sector, and housing, PM Office Media Wing said in a press release.
The meeting approved the 13th Five-Year Plan (2024–2029), besides according approval to “Uraan Pakistan Framework.” It was informed that the 13th Five-Year Plan and the Uraan Pakistan framework were mutually aligned.
A third-party monitoring report on the annual national development program was also presented. It was decided that future project planning would be guided by the recommendations of this report.
The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Planning Dr. Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Information and Broadcasting Minister Attaullah Tarar, Adviser to the Prime Minister Rana Sanaullah, as well as Chief Minister Punjab Maryam Nawaz, Chief Minister Sindh Syed Murad Ali Shah, Chief Minister Khyber Pakhtunkhwa Ali Amin Gandapur, Chief Minister Balochistan Nawab Sarfraz Bugti, and other members of the National Economic Council.
During the meeting, the prime minister congratulated the participants of the meeting on Pakistan’s historic victory in Marka e Haq on May 10.
“By the grace of Allah Almighty, Pakistan achieved victory in Marka e Haq due to the professional competence and bravery of the Pakistan armed forces,” he added.
The prime minister termed India’s recent narrative against Pakistan as extremely irresponsible, posing serious threats to regional peace and security, adding that the people of Pakistan stood united in safeguarding national integrity against India.
He said, “India’s threats to deprive Pakistan of its water resources are unacceptable,” emphasizing that they would also defeat India in the struggle to protect the water resources.
The prime minister said that a special meeting would be held with all chief ministers to formulate a robust strategy for the protection of Pakistan’s water resources in light of Indian aggression.
The federation and provinces would work together to successfully safeguard Pakistan’s water resources, he added.
He noted that the recent economic stability in the country was made possible due to joint efforts of the federal and provincial governments, adding “The country is now on the path to economic growth.”
He further noted that agriculture played a key role in increasing national reserves and economic growth. A strategy was being formulated for a gradual increase in agricultural production, he added.
During the meeting, revised indicators of the economy’s performance for the fiscal year 2024–2025 were presented.
It was informed that a total of Rs. 3,483 billion is being spent on the Annual National Development Program for 2024–2025, including Rs. 1,100 billion for the federal government and Rs. 2,383 billion for the provinces.
The meeting approved a GDP growth rate of 2.7% for 2024–2025 and a target of 4.2% for the next fiscal year.
A briefing noted that remittances increased by 30.9% from July 2024 to April 2025, and for the first time, the current account balance remained in surplus.
The fiscal deficit for 2024–2025 was reduced to 2.6% of GDP, while the primary balance showed a surplus of 3% of GDP.
Due to government policies and measures, the policy rate gradually declined to 11%, and loans issued to the private sector from July 2024 to May 2025 rose to Rs. 681 billion, the briefing highlighted.
The GDP for 2024–2025 is projected at Rs. 114 trillion or $411 billion, the meeting was informed.
A report on the progress of the CDWP (Central Development Working Party) from the period April 2024 to March 2025 was presented to the Council.
Details of national development projects approved by CDWP and ECNEC during this period were also shared.
The prime minister thanked all participants for the consensus on the agenda items and said that such national consensus was the key to Pakistan’s bright future.