The National Economic Council (NEC), led by Prime Minister Shehbaz Sharif, is set to convene to review ongoing and future investments and set targets for the next fiscal year, aiming for a 3.6% economic growth rate. The council will consider the 13th five-year plan, review the performance of Ecnec and CDWP, and push to increase the federal Public Sector Development Programme (PSDP) to Rs1.5 trillion, against the Rs1.22 trillion recommended by the APCC.
The meeting will review the outcome of the 2023-24 macroeconomic framework, approve next year’s economic priorities, and consider the national investment plan for the next fiscal year. The growth targets for 2024-25 include 2% growth in the agricultural sector, 4.4% in the industrial sector, and 4.1% in services, subject to political stability and other factors.
The total investment-to-GDP ratio is expected to increase, fixed investment to grow by 27.6%, and national savings to reach 13.3% of GDP. The government aims to narrow the fiscal deficit through fiscal consolidation measures and align monetary policy with the objectives of inflation and growth revival.
Overall, the NEC meeting promises significant economic discussions and decisions that will shape Pakistan’s economic landscape for the upcoming fiscal year.\
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