ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) under the chair of Prime Minister Shahid Khaqan Abbasi has approved eight development projects worth over Rs80 billion in a meeting held in Islamabad here on Wednesday.
It approved the project for upgradation and extension of NTDC’s Telecommunication and SCADA System at a cost of Rs11.638 billion.
The committee approved a 200-bed Centre of Excellence for Obstetrics and Gynecology will be established in Rawalpindi at a cost of over Rs5.3 billion, while also approving the Southern Punjab Poverty Alleviation Project at a cost of Rs7.566 billion.
The ECNEC discussed and approved the construction of Northern Bypass of Dera Ghazi Khan at a cost of Rs4.874 billion and improvement and widening of 153-kilometre Chitral – Boomi – Mastuj – Shandur Road at a cost of over Rs16.755 billion.
Meanwhile, the National Economic Council was informed here on Wednesday that Rs1415 billion has been invested in the energy sector during the last five years, adding 7653 MW of electricity to the national grid. This council met in Islamabad with Prime Minister Shahid Khaqan Abbasi in the chair.
The meeting was informed that 3,163 MW more electricity will be added by June this year.
Discussing economic gains made during the 11th plan, it was informed that the average annual growth rate of GDP which stood at 3.0 per cent in 2012-13 increased to around 5 per cent with decade’s highest growth rate of 5.3 percent in 2016-17.
The National Economic Council was also informed that the industrial output growth rate increased from 2.7 to 5.6 per cent with 9 years highest industrial growth of 5.8 per cent in 2015-16. Moreover, the inflation rate, which stood at an average of 12 per cent, was brought down to 5.2 per cent during this period.
The meeting was informed that early harvest projects of CPEC are on track with 42 projects being implemented through current year’s PSDP.
The meeting was informed that the total national development outlay increased from Rs1.042 trillion to Rs2.247 trillion.
Federal PSDP allocation increased from Rs425 billion to over Rs1 trillion and public investment to GDP ratio increased from 3.5 to 4.3 percent.
The meeting was also briefed on socio-economic objectives for the next Five Year Plan along with provincial priorities which would be aligned with national level objectives.
