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PM to chair NEC meeting on budget today

ISLAMABAD: Prime Minister Nawaz Sharif will chair a meeting of the National Economic Council (NEC) to consider over the upcoming annual budget proposals, ARY News reported on Thursday.

The meeting will likely to approve the development budget of 1310 billion rupees for the fiscal year 2014-15.

The chief ministers of provinces, provincial ministers of finance and the Prime Minister of Azad Kashmir will attend the NEC meeting, the Ministry of Finance sources said.

Federal Minister of Finance Ishaq Dar will brief the meeting over the upcoming budget in which 1310 billion rupees have been allocated for the annual development programme including 525 billions for the federal and 650 billion rupees for provincial development programmes.

WAPDA, PEPCO and NTDC will invest Rs. 135 billion from their resources in the development programme, sources said.

The NEC meeting will also approve 1175 projects of the centre and the provinces.

The government has set 5.1 percent growth rate of the economy for the new fiscal year.

The target of growth rate for agriculture has been set at 3.3 pct, the industrial growth target has been fixed at 6.8 pct and the growth rate for services sector has been fixed at 5.2 percent.

The economic survey of the current financial year will be released on June 02, while the finance minister will announce the federal budget for the year 2014-15 on June 3rd.




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