Islamabad: A meeting of the National Economic Council (NEC) was held on Wednesday, presided over by Prime Minister Imran Khan. An approval of National Development Outlay 2019-20 amounting to Rs1.837 trillion was made. It includes Rs925bn for federal public sector development programme (PSDP) and Rs912bn for provincial annual development plans (ADPs). The outlay includes 300 federal projects with four percent of an economic growth rate.
The approved federal PSDP includes a foreign exchange component of Rs127bn, projects of the federal ministries worth Rs295bn, projects of National Highway Authority at a cost of Rs189bn. Further projects are for WAPDA and power sector. China would be resource for Rs90bn in corporation’s projects. Nearly Rs100bn will be directed for internally displaced persons (IDPs), security enhancement will stand at a cost of Rs32.5bn, and Rs10bn will be allocated for youth skills development programme, while Rs2bn for tree plantation. Another Rs22bn has been allocated for the merged districts of KP under 10-year development plan. Federal PSDP also includes Rs250bn worth of alternate funding to be generated by public-private partnership.
Divided sector wise, Rs371bn from the Rs575 federal PSDP goes to infrastructure, Rs80bn to the energy sector, Rs200bn to transport and communications, Rs21bn for planning and housing and Rs70bn for water. The social sector gets Rs93bn while the remaining goes to GB, AJK, KP merged districts and industries.
The NEC also approved a process of approval for Programme for Results (PforR), Development Policy Credits (DPCs) and Financial Intermediation Programmes (FIPs).
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