Budget FY26: NEC nods to record Rs4.2tr development outlay for next fiscal
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Prime Minister Muhammad Shehbaz Sharif chairs a meeting of the National Economic Council in Islamabad on Wednesday. —APP
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ISLAMABAD: The National Economic Council (NEC) on Wednesday approved a development program of 4.2 trillion ($ 15.1 billion) for the financial year 2025-2026 (FY66), which turned 1 trillion for federal schemes and Rs 2.87 trillion for provincial expenditure.
On Wednesday, the NEC meeting chaired by Prime Minister Muhammad Shahbaz Sharif approved the annual development plan for the financial year 26.
With the NEC’s six -point agenda unanimously moved forward, the financial economic framework and the goals of the financial year 26 were moved forward.
The NEC directed the concerned ministries, provinces and government agencies to work together with the Ministry of Planning to achieve the goals set in the proposed F -26 annual project.
The Prime Minister’s Office Media Wing said in a press release that these development projects include health, education, infrastructure, water sector and housing.
According to the approval of the “Uran Pakistan Framework”, the meeting also agreed on the 13th five -year plan (2024-2029). The meeting was informed that the 13th five -year plan and the Uran Pakistan Framework have been mutually linked.
The meeting was also presented to a third party monitoring report on the annual National Development Program. It was decided that the recommendations of this report would guide the future plan plan.
During the meeting, the Prime Minister congratulated the participants on the historic victory of Pakistan in Operation Marka-Haq on May 10.
He added, “By the grace of Allah Almighty, Pakistan won the Marka-Haq because of the professionalism and bravery of the Pakistan Armed Forces.”
The Prime Minister termed India’s recent story against Pakistan extremely irresponsible, which posed serious threats to regional peace and security, adding that the people of Pakistan are united in the protection of national integrity against India.
The Prime Minister said, “India’s threats to deprive Pakistan of its water resources are unacceptable.”
The Prime Minister said that in the light of Indian aggression, a special meeting with all the ministers will be held to devise a strong strategy to protect Pakistan’s water resources.
He added, “The federation and the provinces will work together for the success of the water resources of Pakistan.”
The Prime Minister noted that the recent economic stability has been made possible because of the joint efforts of the federal and provincial governments, adding, “Now the country is on the path to economic growth.”
He said that agriculture has played a key role in increasing national reserves and economic growth.
He added, “Strategy was being developed to gradually increase agricultural production.
For the financial year 25, a report on the revised indicator of the economy was also presented at the meeting.
The meeting was informed that a total of Rs 3.483 trillion is being spent on the annual national development program for the financial year 25, which includes Rs 1.1 trillion for the federal government and Rs 2.383 trillion for the provinces.
The meeting approved the target of GDP growth 2.7 % for the financial year 25 and a target of 4.2 % for the next financial year.
A briefing stated that remittances increased by 30.9 % from July 2024 to April 2025, and for the first time, the current account balance posted an additional amount.
The fiscal deficit for the financial year 25 was 2.6 % of GDP, while the basic balance showed 3 % of GDP.
The briefing highlighted that due to government policies and measures, the policy rate gradually increased by 11 %, and by July 2024, the debt issued to the private sector increased to Rs 681 billion. The meeting was informed that GDP is estimated at 1114 trillion or Rs. 411 billion for the financial year 25.
A report on the progress of the Central Development Working Party (CDWP) was submitted to the Council from April 2024 to March 2025 to March 2025.
During this period, details of national development projects approved by the Executive Committee of the CDWP and the National Economic Council were also shared.
The Prime Minister thanked all the participants for the consensus on the agenda items and said that such a national consensus is the key to the bright future of Pakistan.
Deputy Prime Minister and Foreign Minister Mohammad Ishqq, Finance Minister Mohammad Mohammad Mohammad Aurangzeb, Advisor to Prime Minister Rana Sanaullah, Advisor to Minister Rana Sanaullah, Minister Minister, Minister, Minister VI, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister Minister, Minister, Minister Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister, Minister Muhammad Gandpur, Chief Minister Balochistan Nawab Sarfraz Bugti, and other members of the NEC.
