The Annual Plan Coordination Committee (APCC) has scheduled a meeting for June 2 (Monday) to formulate proposals for Pakistan’s forthcoming fiscal year’s development budget, according to sources quoted by The News.
This pivotal meeting will be chaired by Federal Minister for Planning and Development, Ahsan Iqbal.
Representatives from all federal ministries and the four provinces are expected to participate in the APCC session. During this meeting, the committee is anticipated to approve the Public Sector Development Programme (PSDP) for the next fiscal year.
The APCC functions as a consultative body, providing recommendations on macroeconomic and development frameworks to the National Economic Council (NEC).
Sources indicate that the Ministry of Finance aims to allocate up to Rs952 billion for the PSDP. However, the Ministry of Planning has received proposals from various ministries and divisions requesting a substantial allocation of Rs2,900 billion for the PSDP. Meanwhile, the planning minister has specifically requested an allocation of Rs1,650 billion for the PSDP.
The ultimate approval for the development budget rests with the NEC, which is headed by the Prime Minister.
Furthermore, the APCC will also endorse the gross domestic product (GDP) growth target for the upcoming fiscal year. The official date for the next NEC meeting has not yet been publicly announced.
The federal government is slated to unveil the fiscal budget on June 10 (Tuesday), immediately following the Eid ul Adha holidays.
With Eid ul Adha expected to fall on June 7 and 8 (Saturday and Sunday), sources suggest that June 9 (Monday), the third day of Eid, will likely need to be declared a working day to accommodate crucial economic proceedings.
This revised schedule includes both the meeting of the National Economic Council (NEC) and the release of the Economic Survey 2025 on the same day.
Amidst speculation surrounding a potential delay, Federal Finance Secretary Imdadullah Bosal has dismissed such rumors, reaffirming that the federal budget will indeed be presented on June 10 as planned.
