According to reports, the yearly development programme, with a total volume of Rs2,709 billion for the 2019 budget, was approved by the National Economic Council (NEC) on Tuesday.
According to the sources, it was decided that the Centre will invest Rs950 billion under the PSDP (Public Sector Development Programme) as Prime Minister Shehbaz Sharif presided over the NEC meeting.
On the other side, Rs. 1,559 billion is the planned total outlay for the province’s development programme.
A further 250 billion rupees has been allocated under the public-private partnership for the execution of development projects around the nation.
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According to Article 156 of the Constitution, the province chief ministers are among the members of the NEC, which is presided over by the prime minister. Additionally, there are eight nominees.
An important constitutional body that oversees the financial relations between the federal government and the provinces occasionally receives nominees from both the federal and provincial sides.
The NEC is in charge of examining the nation’s overall economic situation, providing advice to the federal and provincial governments, and developing strategies for financial, commercial, social, and economic policies.
