Islamabad: The Annual Plan Coordination Committee (APCC) has approved a development plan worth PKR 1.763 trillion for the fiscal year 2018-2018, according to a news report. This has been approved on the request of the National Economic Council (NEC) to achieve the targetted economic growth rate of 6.2%.
This was approved during a meeting chaired by Minister for Planning and Development Ahsan Iqbal, and attended by various ministers from all provinces. At the meeting, Mr. Iqbal said that he hopes to increase the development budget for the next year beyond PKR 2 trillion to ensure a GDP growth rate of 6.2%. The overall indicative development budget of PKR 1.763 trillion includes provincial Annual Development Plans (ADPs) amounting to PKR 1.013 trillion and funds for Federal Public Sector Development Program (PSDP) totalling to PKR 750 billion.
The meeting has also approved the macroeconomic framework to achieve a growth rate of 6.2% for next year. Most of the macroeconomic indicators have been set even higher for the next fiscal year than the current year’s performance. It’s also been decided that all unapproved projects will be dropped, while CPEC-related projects would get maximum funds. National Highway Authority is to get PKR 233 billion, and the water sector will get PKR 18 billion.
