NEC meeting to convene today instead of June 5

June 04, 2025 (MLN): The National Economic Council (NEC) meeting, originally scheduled for June 5, has been rescheduled to take place today.

In a significant move, the NEC is expected to approve a comprehensive national development plan worth Rs3.79 trillion, according to sources within the Ministry of Finance.

During the meeting, Finance Minister Muhammad Aurangzeb will brief Prime Minister Shehbaz Sharif on the upcoming budget.

The Council will also give the green light to the key outlines of the federal budget for the next fiscal year.

A major aspect of the upcoming development budget includes a substantial allocation of Rs1tr for federal projects.

Punjab is set to receive the largest provincial allocation of Rs1.18tr, followed by Sindh with Rs887 billion, Khyber Pakhtunkhwa with Rs440bn, and Balochistan with Rs280bn.

In addition to traditional funding, the NEC is expected to approve development initiatives and strategic projects under the public-private partnership (PPP) model.

Looking further ahead, the Council will also endorse a five-year development framework, setting ambitious targets to steer the country's economic growth.

For the next fiscal year, a GDP growth target of 4.2% is on the table, with specific sectoral goals also being proposed, including agricultural growth at 4.5%, industrial growth at 4.3%, and services sector growth at 4%.

On the external front, the government is likely to set an export target of $35bn and an import ceiling of $65bn. Remittances, a vital pillar of the economy, are projected to reach $39bn in the coming fiscal year.

Copyright Mettis Link News