ISLAMABAD: Pakistan’s National Economic Council (NCC) has approved the developmental programme of Rs 730 billions by increasing 58 percent for the fiscal year 2011-12, out of which Rs 430 billions would be distributed among provinces whereas Rs 300 billions were allocated for the federal government.
According to break-up of developmental programme, out of Rs 430 billions earmarked for the provinces, Rs 200 billions would be given to Punjab, Rs 120 billions to Sindh, 80 billions to Khyber Pakhtunkhwa and 30 billions has been kept for Baluchistan.
As far as the Public Sector Developmental Programme (PSDP) of the federal government is concerted, Rs 155 billions has been kept for infrastructure, Rs 122 billions would utilize in social sector and Rs 23 billions have been allocated for the other projects.
The meeting of NCC was held under the chairmanship of Prime Minister Syed Yousaf Raza Gillani. The council also gave approval of Growth Strategy of Micro Economic Framework.
It was decided in the meeting that to enhance the role of private sector in the national economy by restricting the interference of the government to policy making and regulation only.
Deputy Chairman Planning Commission Dr Nadeem-ul-Haq told the meeting that the projects that are near to completion in education and health sectors would be given top priority during next fiscal year and Rs 268Â billions have been earmarked for the under construction projects.
Finance Minister Dr Abdul Hafeez Sheikh informed the meeting that the purpose of micro economic framework is to keep continuity in steady economic growth and to bring the growth rate to six to seven percent so that youth may be given job opportunity. “During financial year 2011-12, the target of growth rate has been fixed 4.2 percent, the saving would be 13.2 percent and target for inflation is 12 percent.
The finance minister said that those institutions would be revamped through private public partnership and privatization.
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