ISLAMABAD: Pakistani Prime Minister Shahid Khaqan Abbasi is scheduled to chair National Economic Council (NEC) meeting today (Friday) in which the government seeks approval for stopping expenditures on those new development projects where allocation was less than 25 per cent of total approved cost during the current fiscal year.

This step has been proposed for diverting development funds towards those projects which could be completed up to June 2018 in order to win support of masses keeping in view electioneering year after few months.

According to official summary moved to NEC, highest economic decision making forum of the country, the ministries/divisions were informed that the cut-off for approval of un-approved projects was Dec.31, 2017 so funds allocated to projects which were not yet approved by the envisaged deadline would be withdrawn and diverted to other fast moving projects.

National Economic Council (NEC) of Pakistan is constituted by the President. The National Economic Council shall review the overall economic condition of the country and shall, for advising the Federal Government and the Provincial Governments, formulate plans in respect of financial, commercial, social and economic policies; and in formulating such plans it shall, amongst other factors, ensure balanced development and regional equity and shall also be guided by the Principles of Polices set out in Chapter 2 of Part II.

Internews