The National Economic Council (NEC)’s meeting was once more delayed on Monday, with sources maintaining it will take place tomorrow (Tuesday), as the ruling Pakistan Muslim League (Nawaz) continues negotiations with the Pakistan Peoples Party (PPP) over various budgetary allocations.
The NEC meeting, a key precursor to the presentation of the federal budget for the upcoming fiscal year, was originally scheduled for May 22 but was delayed until June 3. It was then delayed once more to June 8. According to the Cabinet Division it is now scheduled to take place on Tuesday (June 9).
Chaired by Prime Minister Shehbaz Sharif, the NEC brings together the four provincial chief ministers to review approve the national development budget for the next fiscal year. It is the country’s highest constitutional body for economic planning and development. Its delay is reportedly due to differences between the PPP and PMLN over the budget, with the government striving to evolve consensus before moving ahead with major budget and development-related decisions.
According to local media, Deputy Prime Minister and Foreign Minister Ishaq Dar has already undertaken several meetings with the PPP leadership to end the impasse, while a meeting for the same is also scheduled between the premier and PPP Chairman Bilawal Bhutto-Zardari.
The upcoming meeting is expected to consider a Rs. 4.464 trillion national development budget for FY27, including a development budget of Rs. 1.320 trillion and provincial development programs of Rs. 3.138 trillion. The proposed provincial allocations include Rs. 1.450 trillion for Punjab; Rs. 816 billion for Sindh; Rs. 564 billion for Khyber-Pakhtunkhwa; and Rs. 308 billion for Balochistan.
The NEC’s recommendations would provide the framework for both federal and provincial development programs during the upcoming fiscal year. It is likely that some final allocations might be adjusted before the NEC formally approves them.