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The National Economic
Council has approved a development programme of 568 billion rupees for the
next financial year.
At its meeting in Islamabad with Prime Minister Syed Yousuf Raza Gilani in
the chair, the NEC decided that 371 billion rupees will be spent under
federal programme, 170 billion rupees under the provincial programme and 27
billion rupees will be spent on rehabilitation and reconstruction in the
earthquake affected areas. The meeting also discussed measures to provide
relief to the poorest segment of the society and stabilize the prices
especially of the food items. The Prime Minister in his opening remarks said
that NEC is the country's highest financial forum which approves the
economic outlay and reviews the macro-economic performance of the country.
He said that the annual plan 2008-09 marks the first important step by his
government to deliver on its promises made to the people. The Prime Minister
said that this will also signal a paradigm shift from the earlier
consumption-led development strategy to pro-poor development strategy to
ensure that the gains of economic growth are invested on the welfare of our
people. The Prime Minister further said that the PSDP 2008-09 has been
formulated through intensive discussion and consultations with all
stakeholders so that the provincial governments, AJK, FATA & Northern Areas
all must have a sense of ownership of the PSDP. The Prime Minister said that
the PSDP must seize every opportunity of facilitating growth of the private
sector. The public and private sector, he added, must walk together to
establish a viable partnership. He said major thrust of the PSDP 2008-09
would be on empowering our young men & women with necessary education and
skills. This he added will enable Pakistan to effectively compete and take
advantage of a rapidly globalizing world.
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