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NEC allocates funds for development
30 May 2011: The National Economic Council (NEC) has set aside Rs 73,000 crore for development in the budget for the fiscal year 2011-12, while Rs 43,000 crore has been allocated for the provinces.
Out of total PSDP-2011-12 allocations approved by the NEC the Federal share is Rs 30,000 crore while Rs 43,000 crore will be the provincial share which is 58 percent higher than last fiscal year. A provision of Rs 15,500 crore will be made for the Public Sector Development Programme (PSDP) in the new budget while the growth rate of GDP will be 2.5 percent.
Source: Business Recorder