Govt to best utilize resources for economic revival: PM

Islamabad: Prime Minister Shehbaz Sharif on Monday said the government would ensure best utilization of available resources for economic revival, welfare of the masses and development of the country.

He expressed these views while presiding over a meeting of the National Economic Council in Islamabad on Monday.

The Prime Minister said the Federation would ensure consultations with the provinces and other stakeholders in all key decisions with collective approach and consensus to be taken for economic revival in the country.

He said National Economic Council is the biggest forum to take decisions on national economy and economic revival.

The Prime Minister directed the National Economic Council to constitute a committee to equip the Council with requirements of the modern era.

The Committee in consultation with all the provinces and stakeholders will prepare its recommendations to make the Council more functional.

The Prime Minister said that agriculture is the backbone of country's economy and consultation with the provinces is very much important for the development of agriculture sector.

He directed to ensure incorporation of the proposals of the provinces regarding agriculture and other sectors in the development plan.

The Council was informed about the annual development plan and performance of the government departments in the outgoing fiscal year, and about the proposed development plan for the next financial year.

The meeting was told that the growth rate target for the next year has been increased.

The Council approved the economic growth targets, the macroeconomic framework and publication of the Annual plan for 2024-25.

The Council was also given a detailed briefing on the thirteenth Five-year Development Plan.

It was also briefed about the national goals for the recovery of the economy and the development of the country and the measures to achieve them.

The Council accorded approval to the thirteenth Five-year Development Plan in principle.

The Council was told that CPEC, international investment projects and other ongoing projects that are near completion, would be given priority in the upcoming development budget.

Apart from this, Sustainable Development Goals will be included in the development budget and backward areas would also be prioritized in the development budget.

A report on the performance of Central Development Working Party and Executive Committee of National Economic Council from April last year to May this year was also presented in the  Council meeting.

Earlier at the outset, the National Economic Council offered prayers for the martyrs of Lakki Marwat terrorist attack and granting fortitude to the bereaved families.