nec approves rs 1.514 trillion for dev

ISLAMABAD: The National Economic Council (NEC) at its meeting in Islamabad on Monday approved development outlay of 1.514 trillion rupees and fixed a GDP growth rate of 5.5 percent for the next financial year. The meeting was chaired by Prime Minister Nawaz Sharif. The development outlay includes 700 billion rupees as federal PSDP and 814 billion rupees as provincial Annual Development Program (ADP). Growth target for the next financial year for agriculture sector has been set at 3.9 percent and for manufacturing sector 6.1 percent. Export target for the year has been set as 25.5 billion dollars.