National Economic Council approves Rs 3.792 trillion development plan

The National Economic Council (NEC) has approved a national development plan worth Rs 3.792 trillion for the upcoming fiscal year, a significant increase from the current year's allocation. The plan includes Rs 1.4 trillion for federal development projects and Rs 2.095 trillion for provincial initiatives, aiming to boost infrastructure and economic growth across the country.

Under the federal development plan, the government has allocated Rs 1.5 trillion for the Public Sector Development Programme (PSDP), with an additional Rs 100 billion earmarked for public-private partnership projects. State-owned entities are expected to invest Rs 196.83 billion in development activities, bringing the total federal development budget to Rs 1.696 trillion.

For the provincial development plan, Rs 2.095 trillion has been allocated, representing a substantial increase from the current fiscal year. This combined effort by the federal and provincial governments aims to address key development challenges and improve the quality of life for citizens.

In the federal PSDP for 2024-25, significant allocations have been made for various corporations, including Rs 356.22 billion for the National Highway Authority (NHA) and Rs 180.28 billion for NTDC/PEPCO. Additionally, Rs 1.039 trillion has been allocated for federal ministries and divisions to support their development projects.

The unveiling of the Rs 3.792 trillion national development plan reflects the government's commitment to accelerating economic growth and infrastructure development. By prioritizing key sectors and increasing investment in public projects, the plan aims to create job opportunities, improve infrastructure, and enhance the overall well-being of the population.