ECC to give approval to Rs2tr development budget
Stay tuned with 24 News HD Android App
The Economic Coordination Committee will approve an expected Rs900 billion for the federal development projects in the next financial year, reported by 24NewsHDTv Channel.
Prime Minister Imran Khan chaired the ECC meeting on Monday. The chief ministers of all four provinces and other members of the council participated in the meeting.
The meeting would give approval to the next fiscal year’s development budget and key economic targets.
According to sources, the federal government would earmark Rs900 billion for the development budget in the next fiscal budget 2021/22. Rs1,235 billion would be suggested for the development budget of provinces. The total outlay for both federal and provincial development budgets would be estimated at Rs2,135 billion.
It is suggested to keep the target of growth between 4.8% to 5%. The inflation rate would be suggested at 8%.
Under the federal development budget, it is suggested that Rs526 billion would be set aside for the ministries and divisions. Rs558 billion would be earmarked for basic development projects.
For transportation and communication, Rs291.94 billion would be set aside. It is suggested that Rs120.88 billion would be given to the energy sector. For water resources planning, Rs105.22 billion would be allocated.
It is suggested to give Rs43 billion to Azad Kashmir and Gilgit-Baltistan. Rs54 billion would be kept for merged areas.
The meeting will also approve RS74 billion for SDGs. The Higher Education Commission is expected to get Rs43.38 billion.
For the environment, the committee would approve Rs15.46 billion. For science and technology, Rs 31.33 billion; for health, Rs31.41 billion; for food and agriculture, Rs12 billion; and for governance, Rs6.78 billion would be suggested.
Reporter Waqas Azeem