The National Economic Council on Monday approved Rs 1155 billion development projects, including Rs 540 billion federal Public Sector Development Programme (PSDP) and Rs 615 billion development projects belonging to the provinces. The NEC meeting, chaired by Prime Minister Muhammad Nawaz Sharif here  at the Prime Minister’s Office, also decided to constitute a committee led by the Minister for Planning and Development with provincial chief ministers as its members to consider issues and make a policy with clear guidelines consistent with the functional responsibilities under the Constitution. The Council authorized the aforementioned committee to also streamline the process of release of funds to the provinces.
The NEC also authorized the Ministry of Planning and Development for making adjustments within the approved PSDP size as decided by the committee.
Prime Minister Muhammad Nawaz Sharif, in his  welcome remarks, congratulated the chief ministers on their assumption of offices and completion of smooth transition.
The Prime Minister reiterated that the mandate of the people  would be respected and expressed the confidence that if they continued on the path of democracy, respect democratic traditions and the mandate of the people, the days were not far off when they would be able to raise their heads high as a civilized nation.
He expressed the hope that the provincial governments would work in  their respective provinces for the implementation of development projects with sincerity and ensure that the funds were not only used judiciously but each and every rupee was spent as a sacred trust of the people.
“We will not tolerate any breach of national trust. Funds should be utilized for the purpose they are intended and honestly”, he emphasized.
The Prime Minister said that the biggest issues facing the country  were loadshedding, extremism and sectarianism, which have a direct bearing on the country’s economy. Peace is needed for economic activities, he added.
“We have to eliminate corruption and plug loopholes and leakages to increase revenue. The present quantum of revenue collection, and size of  the development programme is a shame for a country of the size and status of Pakistan”, he remarked.
The Prime Minister said that the country needed revenues and these targets could be improved provided they rid the tax collection machinery of corrupt elements. This is a pathetic situation and is unacceptable, he observed and warned, “No one involved in corruption will be spared.”
Nawaz Sharif directed the Minister for Planning and Development to review the ongoing schemes reportedly amounting to nearly Rs three trillion and come up with recommendations by July 31, so that a roadmap on their implementation could also be finalized.
He directed Minister for Water and Power Khawaja Muhammad Asif to find a way out to provide additional electricity to Balochistan in view of the urgent requirement of water for the crops.
The direction was issued in response to the request made by Balochistan Chief Minister Dr Abdul Malik Baloch, who informed the Prime Minister that the province was presently receiving two hours of electricity only and this would adversely impact the standing crops.
The Prime Minister directed the Ministry of Finance to present a proposal to the Cabinet containing recommendations for improvement in revenue collection, including structural reforms.
The chief ministers of Punjab, Sindh, Khyber Pakhtunkhwa,  Balochistan, Gilgit-Baltistan and AJK President while congratulating the Prime  Minister on the assumption of office, assured him of their unconditional support to his programme of revival of economy for the country.
The meeting was attended by Punjab Chief Minister Shahbaz Sharif, Sindh Chief Minister Qaim Ali Shah, Khyber Pakhtunkhwa Chief Minister Pervez Khattak, Balochistan Chief Minister Dr. Abdul Malik Baloch,  Gilgit Baltistan Chief Minister Syed Mehdi Shah, Khyber Pakhtunkhwa Governor Eng. Shaukat Ullah, Prime Minister  of Azad Jammu and Kashmir, Chaudhry Abdul Majeed, Advisor to  Chief Minister Sindh Syed Murad Ali  Shah, Senior KPK Minister  for Finance Siraj ul Haq, Minister for Water and Power  Khawaja Muhammad Asif, Minister for Planning and Development  Ahsan Iqbal, chief secretaries of all provinces and senior officials.