ISLAMABAD - The National Economic Council has been convened on April 24 to approve national developmental outlay of Rs 1813 billion for the coming fiscal.

A meeting of the NEC will be held (tentatively) on Tuesday in the cabinet room of the PM Office and will discuss the current and upcoming fiscal Annual Plan, PSDP current and the upcoming and five year plan, said a notification issued by Cabinet Division here.

The meeting will be chaired by the Prime Minister Shahid Khaqan Abbasi and will be attended by federal minister for finance, planning, chief ministers of four provinces, prime minister AJK and federal minister for SAFRON.

According the agenda of the meeting available with the scribe the meeting will review Annual Plan 2017-18 and proposed Annual Plan 2018-19.

Review of Public Sector Development Programme (PSDP) 2017-18 and proposed PSDP 2018-19.

The meeting will also discuss the progress report of CDWP and ECNEC from 1st April 2017 to 31st March 2018 and draft 12th Five-Year Plan (2018-23).

The Annual Plan Coordination Committee (APCC) has earlier this week approved a developmental outlay of Rs 1,763 billion, for the Federal PSDP and provincial ADPs for the fiscal 2018-19.

The planning ministry is still striving to increase the ceiling to Rs 1010 billion however it has been decided to present the PSDP allocation of Rs 800 billion to the NEC.

Following the previous IBC given by the ministry of finance, the APCC has approved the allocation of Rs 750 billion for the ministries/division.

The finance ministry has later increased the Indicative Budget Ceiling (IBC) for the ministries/divisions by Rs50 billion in the PSDP 2018-19 from Rs750 billion to 800 billion.

Now the provinces share will be the same Rs1013 billion, as approved by the APCC, however it has been decided to present a proposal of Rs 800 billion for federal PSDP to the NEC.

It is worth to mention here that the planning ministry has worked out two different drafts of Rs 800 billion and Rs 1010 billion PSDP 2018-19 allocations, however finally it has been decided to present the PSDP allocation of Rs 800 billion to the NEC for approval.

Now the decision of the APCC about the allocation has been shared with the ministries and divisions and now they will be finalized the Indicative New Schemes (INS).