Development budget for next fiscal year to be over Rs 2,000 billion

ISLAMABAD: Federal Minister for Planning Ahsan Iqbal said on Monday that the gross national development budget for the next fiscal year will be over Rs 2,000 billion.

The annual session of the Plan Coordination Committee under Ahsan Iqbal took place today to approve recommendations for the federal and provincial development budget.

In the session, it was agreed upon that the sectors such as energy, infrastructure, human resources, and education will be a priority in the development budget.

Iqbal said that the finance ministry had recommended a development budget of Rs750 billion for the federal sectors, although the National Economic Council recommended the budget to be increased to Rs1,000 billion.

The federal minister said that the overall development budget including that of provinces will be more than Rs2,000 billion.

Iqbal said that it was recommended that the target for economic development should be 6.2 percent for the field of agriculture, which will be increased gradually too.

The economic growth percentage will be raised more than seven percent till 2023, said Iqbal.