NEC approves projects worth Rs 1.1 trillion


The National Economic Council (NEC) on Monday approved Rs 1155 billion new projects, including Rs 540 billion federal Public Sector Development Programme (PSDP) and Rs 615 billion provincial projects.
According to details, the NEC allocated Rs 160 billion for the energy sector, whereas Rs 52 billion has been allocated for WAPDA and PEPCO projects.
The Capital Development Authority (CDA) will be provided 21.5 billion and amount worth 100 million would be allocated for the Economic Affairs Division in the current PSDP. For health and population sector, Rs 25 billion are being allocated and initially Rs 5 billion have been set aside to the initial phase of Tameer-e-Wattan Programme.
It was decided during a special sitting of the newly-formed NEC that was chaired by Prime Minister Nawaz Sharif at Prime Minister’s Secretariat.
The NEC meeting decided to form a committee led by the Planning and Development minister with all chief ministers as its members to consider issues and make a policy with clear guidelines.
It also decided to form a committee led by the Planning and Development minister with CMs as its members to consider issues and to chalk out a policy with clear guidelines.
The council authorised the committee to also streamline the process of release of funds to the provinces. The council also authorised the ministry to make adjustments within the approved PSDP size.
Nawaz Sharif congratulated the CMs on assumption of offices and completion of smooth transition.
Nawaz Sharif expressed the confidence that if they continued on the path of democracy and respect democratic traditions the days were not far off when they would be able to raise their heads high as a civilized nation.
He hoped that the provincial governments would work for the implementation of developmental projects with sincerity.
“We will not tolerate any breach of national trust. Funds should be utilized for the purpose they are intended and honestly”, he emphasized.
The PM said that the biggest issues facing the country were load shedding, extremism and sectarianism, which have a direct bearing on the country’s economy. Peace is needed for economic activities, he added.
“We have to eliminate corruption and plug loopholes and leakages to increase revenue. The present quantum of revenue collection, and size of the development programme is a shame for a country of the size and status of Pakistan,” he said, adding that the country needed revenues and these targets could be improved provided they rid the tax collection machinery of corrupt elements.
“No one involved in corruption will be spared,” he warned.
Nawaz directed the Planning and Development minister to review the ongoing schemes reportedly amounting to nearly Rs 3 trillion and come up with recommendations by July 31 so that a roadmap on their implementation could also be finalised.
He directed Water and Power Minister Khawaja Asif to find a way out to provide additional electricity to Balochistan in view of the urgent requirement of water for the crops.
The direction was issued in response to the request made by Balochistan Chief Minister Dr Abdul Malik Baloch, who informed the prime minister that the province was presently receiving two hours of electricity only and this would adversely affect the standing crops.
The PM directed the Finance Ministry to present a proposal to the cabinet containing recommendations for improvement in revenue collection, including structural reforms.
The meeting was attended by Punjab Chief Minister Shahbaz Sharif, Sindh Chief Minister Qaim Ali Shah, Khyber Pakhtunkhwa Chief Minister Pervez Khattak, Balochistan Chief Minister Dr Abdul Malik Baloch, Gilgit Baltistan Chief Minister Mehdi Shah, Khyber Pakhtunkhwa Governor Shaukatullah, Azad Jammu and Kashmir PM Abdul Majeed, KP Senior Minister Sirajul Haq, Water and Power Minister Khawaja Asif and Planning and Development Minister Ahsan Iqbal.