Rs1.67tr budget approved for fiscal year 2016-17
The National Economic Council (NEC) approved on Monday a development budget of Rs1,675 billion for the period of the next fiscal year 2016-17, Express News reported.
The meeting approved Rs800 billion for the federation and Rs875 billion for the provinces.
Prime Minister Nawaz Sharif presided over the meeting via a video-link from the Pakistani High Commission in London, while chief ministers of all four provinces and Gilgit-Baltistan were also present.
He said Pakistan’s future was bright and rapid economic progress will help lay foundations stone for further stability.
PM Nawaz also telephoned his Indian counterpart Narendra Modi.
PM Nawaz departs for London amid Panama Leaks controversy
The premier is set to undergo an open heart surgery in London on Tuesday and is likely to remain hospitalised for a week after the procedure.
The prime minister left for London on May 22 for a medical check-up but postponed his return back home following advice by doctors to undergo the surgery.
In PM’s absence, who runs the govt?
Reports suggested that during the PM’s absence, Finance Minister Ishaq Dar and Interior Minister Chaudhry Nisar will run the affairs of the country.
Apart from the budget, the country is facing heightened political situation in the aftermath of Panama Papers leaks, with demands from the opposition parties to probe the premier’s offshore wealth.