Islamabad: Prime Minister Shehbaz Sharif on Wednesday chaired a meeting of the National Economic Council (NEC), which approved a PKR 4.224 trillion national development outlay for the fiscal year 2025-26. This includes a federal Public Sector Development Programme (PSDP) allocation of PKR 1,000 billion and PKR 2,869 billion for provincial development programmes.
The NEC also approved key macroeconomic targets for the upcoming fiscal year, setting real GDP growth at 4.2% and consumer price index (CPI)-based inflation at 7.5%.
According to official briefings during the meeting, the total development programme for the ongoing fiscal year 2024-25 stood at PKR 3,483 billion, comprising PKR 1,100 billion in federal spending and PKR 2,383 billion from the provinces.
The council reviewed updated economic indicators, which included a 30.9% increase in remittances from July 2024 to April 2025. The current account balance turned positive for the first time during the same period. The fiscal deficit for FY2024-25 was trimmed to 2.6% of GDP, and the primary balance posted a surplus of 3%.
The policy rate has dropped to 11%, while credit to the private sector grew to PKR 681 billion from July 2024 to May 2025. The country’s GDP is projected to reach PKR 114 trillion—or around USD 411 billion—in FY2024-25.
During the session, the NEC also approved the 13th Five-Year Plan (2024–2029) and the Uraan Pakistan Framework. Officials confirmed that the two plans are aligned in terms of strategic direction and development priorities.
Third-party monitoring reports on existing development projects were also presented to the council, with a decision to incorporate relevant recommendations in future planning efforts.
Prime Minister Shehbaz Sharif emphasized the need to prioritize investments in health, education, infrastructure, water security, and housing. He appreciated the provinces for showing consensus on national development goals and reiterated that such cooperation is vital for sustained economic progress.
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