The National Economic Council (NEC), chaired by Prime Minister Shehbaz Sharif, has approved key economic targets and the Annual Development Programme for the upcoming fiscal year. The approval of the Annual Development Programme comes as the government seeks to strengthen economic growth, improve public services, and address national security and development challenges.
The meeting was attended by the chief ministers of Sindh, Khyber Pakhtunkhwa, and Balochistan, while Senior Minister Maryam Aurangzeb represented Punjab. During the session, the prime minister said consultations with provincial governments on the federal budget had continued for several weeks. He emphasized that generating additional resources remains a priority, particularly to meet defense and counterterrorism requirements.
Shehbaz Sharif stated that Pakistan’s economy had faced major challenges in recent years, but coordinated efforts helped stabilize key economic indicators. He noted that rising global oil prices, driven by regional tensions, had created additional pressure. However, cooperation between the federal and provincial governments helped manage the situation effectively. The prime minister added that increasing employment opportunities, boosting exports, improving productivity, and strengthening the economy are shared national responsibilities.
Federal Minister for Planning Ahsan Iqbal announced that the NEC had approved the Public Sector Development Programme (PSDP) for the next fiscal year with an allocation of Rs1 trillion. Meanwhile, the government maintained that it remained committed to the International Monetary Fund (IMF) programme despite economic difficulties. The prime minister also highlighted that consumers received relief worth Rs128 billion to offset the impact of higher fuel prices.
However, official sources indicated that the government is expected to miss several economic targets during the current fiscal year. GDP growth is estimated at 3.7 percent against a target of 4.2 percent, while agriculture and industrial growth also remained below expectations. Per capita income is projected at Rs533,629 compared to the target of Rs560,803. Although the services sector is expected to slightly exceed its target, the overall economic performance reflects continuing challenges. The upcoming Economic Survey is expected to provide a detailed assessment of the country’s progress alongside the newly approved Annual Development Programm