National Economic Commission meeting held with PM Khan in chair, key decisions taken

National Economic Commission meeting held with PM Khan in chair, key decisions taken

ISLAMABAD - Prime Minister Imran Khan has emphasized that joint efforts of the federal and the provincial governments are needed to overcome the unprecedented economic crisis that the country is facing.

The Prime Minister said this while chairing meeting of the National Economic Council in Islamabad on Wednesday.

The Prime Minister said that the government has introduced Local Government systems in Punjab and Khyber Pakhtunkhwa to ensure empowerment of the people at grass root level and to afford them an opportunity to play their part in their developmental process.

He reiterated his call to the provinces to allocate necessary financial resources, as per the commitments made earlier, for the development of erstwhile FATA.

The meeting reviewed Annual Plan 2018-19 and the proposed Annual Plan 2019-20. It approved GDP growth target of 4% along with sectorial growth of agriculture (3.5%) industry (2.2%) and services sector (4.8%) for next financial year.

The NEC meeting reviewed draft 12th Five Year Plan i.e. 2018-23. It was informed that main themes of the 12th Five Year Plan include balanced and equitable regional development; sustainable, inclusive, job-creating export-led growth; resource mobilization and improving governance; improving social protection; ensuring food and water security, enhancing connectivity, promoting knowledge economy and Clean and Green Pakistan.

The NEC approved 12th Five Year Plan (2018-23), in principle. It was decided that the plan will be further fine-tuned, especially its implementation mechanism, in consultation with all stakeholders.

The meeting reviewed Public Sector Development Programme (PSDP) 2018-19 and the proposed PSDP 2019-20.

The meeting was informed that PSDP 2019-20 focuses on new initiatives in the field of agriculture, information technology, higher education, science & technology and technical education and training.

It was apprised that targeted interventions will be made in the less developed districts of the country to bring them at par with other parts of the country for regional equalization. Ten billion Tsunami Program, Prime Minister's Youth Skill Development Initiative, rehabilitation of affected population residing along Line of Control, construction of Gilgit-Shandur-Chitral Road and improvement of sewerage and sanitation system of Gilgit, and development of merged districts of Khyber Pakhtunkhwa are some of the major priority areas of Public Sector Development Programme (PSDP) 2019-20.

The meeting approved National Development Outlay 2019-20 amounting to 1.837 trillion rupees including Federal PSDP and Provincial Annual Development Programmes.

Progress Report of CDWP and ECNEC from 1st April last year to 31st March this year was laid before the National Economic Council.

The NEC confirmed extension in powers of Special Forum for Rehabilitation and Reconstruction in erstwhile FATA till December this year. The Special Forum, under the Chairmanship of Commander 11 Corps, was established by the NEC in 2016 for a period of two years for fast track implementation mechanism for Rehabilitation and Reconstruction in erstwhile FATA.

The meeting approved establishment of Islamabad Development Working Party headed by the Chief Commissioner ICT including representatives from Ministries of Finance, Planning and other concerned offices. The IDWP will be allowed to approve development project up to 60 million rupees.

The NEC also approved procedure for approval of Program for Results, Development Policy Credits and Financial Intermediation Programs.