NEC approves national development budget for upcoming fiscal year

The National Economic Council (NEC), chaired by Prime Minister Shehbaz Sharif, approved the country's development framework and budgetary priorities for the upcoming fiscal year during a high-level meeting held in Islamabad on Wednesday.

ISLAMABAD: The National Economic Council (NEC), chaired by Prime Minister Shehbaz Sharif, approved the country’s development framework and budgetary priorities for the upcoming fiscal year during a high-level meeting held in Islamabad on Wednesday.

The session brought together federal and provincial leadership to discuss development spending, investment priorities, and the implementation status of key public sector projects. Participants conducted a comprehensive review of proposed development allocations for both the federation and provinces, aimed at supporting economic growth, infrastructure development, and social sector improvements in the coming year.

According to officials familiar with the proceedings, the council approved the federal and provincial development budgets after examining various proposals submitted by the relevant authorities. Provincial governments also presented detailed briefings on their Annual Development Programmes (ADPs), outlining planned investments in education, health, transportation, energy, water resources, and other priority sectors.

The meeting further reviewed the Public Sector Investment Programme (PSIP) for the next fiscal cycle, with members discussing strategies to improve project implementation and ensure efficient utilization of development funds. Ongoing investment initiatives under the current fiscal year’s programme were also assessed to evaluate progress and identify challenges affecting timely completion.

During the session, council members were presented with a progress report on projects reviewed by the Central Development Working Party (CDWP) between April 2025 and March 2026. The report highlighted the status of major development schemes and outlined recommendations aimed at accelerating project execution across the country.

The council also examined a separate report detailing projects approved by the Executive Committee of the National Economic Council (ECNEC) during the same period. The review focused on funding allocations, implementation progress, and the economic impact of major public-sector initiatives.

A monitoring and evaluation report covering several large-scale development projects was also approved. Officials emphasized the importance of strengthening oversight mechanisms to ensure transparency, accountability, and the timely completion of projects funded through public resources.

The meeting was attended by the chief ministers of all four provinces, senior federal ministers, top government officials, and representatives from Azad Jammu and Kashmir and Gilgit-Baltistan. Discussions focused on enhancing coordination between the federal and provincial governments to achieve national development objectives and improve service delivery.

Ahead of the meeting, senior government officials and provincial representatives arrived at the Prime Minister House to participate in the deliberations. The gathering underscored the government’s efforts to finalize development priorities ahead of the presentation of the federal budget and to align public investment plans with broader economic goals.