Islamabad: The National Economic Council (NEC) has unanimously greenlit a national development budget totaling 3,669 billion rupees for the upcoming fiscal year. The approval was granted during a meeting chaired by Prime Minister Shehbaz Sharif, with allocations including 1,000 billion rupees for the Federal Public Sector Development Programme, 2,218 billion for the Annual Provincial Development Programme, and 451 billion for State-Owned Enterprises.

According to Radio Pakistan, the council also endorsed a 3.7 percent growth rate for Gross Domestic Product (GDP) for the current fiscal year and set a target of 4 percent for the next fiscal year. The NEC has directed relevant ministries, provincial governments, and public institutions to work alongside the Ministry of Planning to fulfill the objectives laid out in the Annual Plan 2026-27.

During the meeting, a briefing on the performance of the Central Development Working Party (CDWP) and the Executive Committee of the National Economic Council (ECNEC) was presented, covering the period from April 2025 to March 2026. It was noted that the CDWP approved 116 development projects worth 316 billion rupees, while ECNEC sanctioned 72 projects with a total value of 5,117 billion rupees, highlighting substantial progress in national development efforts.

The council also sanctioned 11 National Economic Development Missions under the Uraan Pakistan initiative, designed to accelerate economic transformation, boost productivity, and fortify key economic sectors. Prime Minister Sharif expressed gratitude toward the participants for their unanimous approval of the agenda items, emphasizing that such consensus on national issues strengthens the Federation and ensures a promising future for Pakistan.

The meeting was attended by key figures including Deputy Prime Minister Ishaq Dar, Defence Minister Khawaja Muhammad Asif, and Planning Minister Dr Ahsan Iqbal, among others.