ISLAMABAD Prime Minister Syed Yousuf Raza Gilani as the head of National Economic Council (NEC) - apex body on economic decision-making - on Friday approved Rs 663 billion Public Sector Development Programme (PSDP) for the fiscal year 2010-11. Addressing a briefing on the NEC meeting, PMs Advisor on Finance Abdul Hafeez Sheikh and Information Minister Qamar Zaman Kaira claimed that the Government had been taking a paradigm shift in policy by prioritising ongoing projects over the new ones. Sheikh either avoided or skipped in a lighter mood a plethora of questions regarding the poverty alleviation, unemployment, relief to the salaried class and lowest income strata of the population. According to breakdown of the PSDP, the federal component would amount to Rs 280 billion - a 25 increase over the realised PSDP of the last year. At the same time the component of provinces would be Rs 373 billion - an increase of 53 percent over the previous year. Similarly the NEC also approved Rs 10 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA). Dr Sheikh said that out of total PSDP of Rs 663 billion, Rs 78 billion were a foreign exchange component. Dr Sheikh further said that in future, NEC meetings would be called on quarterly basis to make sure the completion of ongoing projects. The NEC also approved 4.1 percent GDP growth rate for the current fiscal year and set a growth target of 4.5 percent for the coming fiscal year. Meanwhile agriculture growth is targeted at 3.8 percent, manufacturing growth at 5.6 percent and service sector growth at 4.7 percent and inflation at 9.5 percent for the coming fiscal year. Among the sectoral allocation for 2010-11, Rs 35.4 billion will be allocated for water, Rs 29.7 billion for energy sector, Rs 70.3 billion for transports sector, Rs 5.9 billion for agriculture sector, Rs 5.2 billion for education, Rs 15.8 billion for higher education and for the health sector NEC approved Rs 18.8 billion. The Government will complete ongoing projects first and release funds for them to achieve the objective, the Advisor said and added that NEC noted that a number of projects were approved in the annual development programme in the past but they were not completed. On a question regarding US Coalition Support Fund, the Secretary Finance said that this issue had been resolved with the US and in future it would release it well on time. Federal Ministers, Provincial Chief Ministers, Prime Minister of Azad Jammu & Kashmir and CM Gilgit-Baltistan attended the NEC meeting.