Saturday, May 27, 2017

NEC sets highest ever PSDP spending of Rs 1001 billion for 2017-18

ISLAMABAD (APP): The National Economic Council (NEC) on Friday approved growth and spending on public sector development projects for the new fiscal year by 6 percent and Rs 1001 billion respectively.

National Economic Council meeting which was held in federal capital Islamabad was chaired by the Prime Minister Nawaz Sharif, approved the highest ever public sector development projects of Rs 1001 billion under Federal spending for 2017-18.

The Prime Minister Nawaz Sharif said the economy has performed better and the government which took task four years back where the main focus was to improve the country’s economy. The economic activity showed rising trend and set a growth target of 6 percent for 2017-18, the target has been set highest in almost ten years.

Besides approving funds to spend at the federal level, the provinces would also spend nearly Rs 1112 billion for the next fiscal year. 

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