NEC Meeting Today, Chaired by Prime Minister Shehbaz Sharif
The National Economic Council (NEC) meeting will be held today, June 10, 2024, at the Prime Minister’s House in Islamabad. Prime Minister Shehbaz Sharif will chair the meeting, which will be attended by the four provincial chief ministers and representatives from the Federation and provinces.
Agenda
During the meeting, the NEC will discuss and approve the following key agenda items:
* Development Programme for 2024-25: The development programme for the upcoming financial year will be presented for approval. The council will review the progress of the current financial year’s programme and set targets for the next year.
* Economic Targets for 2024-25: The NEC will approve economic targets for the new financial year, including growth, inflation, investment, and national savings.
* Five-Year Plan (2024-29): The council will consider and approve the 13th 5-year plan, which outlines the government’s economic goals and strategies for the next five years.
Key Economic Indicators
Sources indicate that the government has proposed the following key economic targets for the 2024-25 financial year:
* Economic Growth: 3.6%
* Average Inflation: 12%
* Agricultural Growth: 2%
* Industrial Growth: 4.4%
* Services Sector Growth: 4.1%
* Investment: 14.2% of GDP
* National Savings: 13.3%
Five-Year Plan
The NEC will also review a proposed five-year plan to guide economic policy from 2024 to 2029. The plan includes macroeconomic frameworks, energy, balance of payments, development budgets, and reforms in food and agriculture, population, poverty, and governance.
Other Agenda Items
In addition to the main agenda items, the NEC will also consider the following:
* Public investment proposals for the next financial year
* Federal and provincial development programmes
* Development plans of state-owned enterprises
* Progress reports on decisions made by the Economic Coordination Committee (ECC) and the Central Development Working Party (CDWP)