ISLAMABAD: The National Economic Council (NEC) on Wednesday approved a development budget of Rs1837 billion for the center and provinces for the next monetary year.
In a meeting presided by Prime Minister Imran Khan, a 12th five-year plan was approved, said the statement issued today.
4 per cent Gross Domestic Product (GDP) rate, 3 per cent increase in the agriculture sector, 2.2 per cent in industry and 4.8 per cent in the services sector were approved by the council.
During the meeting, PM said when his party came into power, the country was facing the worst economic crisis of its history and all their efforts were meant for saving it from being defaulted.
PM said, “we are doing all those things that needed to be done in the past,” stressing the need for joint efforts by the center and provinces to drive the country out of the economic crisis.
PM also advocated the provinces to allocate the share of former FATA from their share of the National Finance Commission (NFC) Award.