The National Economic Council (NEC) approved on Wednesday the economic targets and annual development plan for the fiscal year 2025–26.

According to details, for the upcoming fiscal year, the economic growth target has been set at 4.2%, while the inflation target is 7.5%.

The NEC meeting was under the chairmanship of Prime Minister Shehbaz Sharif. The meeting was attended by the chief ministers of all four provinces, the Gilgit-Baltistan chief minister and senior government officials.

During the meeting, the council approved the proposed economic targets and development plan for the 2025–26 fiscal year.

The NEC had set a target of PKR 560,803 as the annual per capita income. Sectoral growth targets include 4.5% for agriculture, 4.3% for industry, and 4.0% for the services sector.

Export earnings are targeted at $35billion, while imports are projected to reach $65billion. Remittances are expected to be around $39billion.

The size of the national development programme has been fixed at Rs4,083billion, including Rs1,000billion allocated for the federal development budget.

An allocation of Rs200billion had been proposed for federal state-owned enterprises, while Rs332billion was earmarked for organisations including the National Highway Authority (NHA).

Under the provincial development budgets, Punjab has been allocated Rs1,188 billion, Sindh Rs887billion, Khyber Pakhtunkhwa Rs404billion and Balochistan Rs280billion.

Additionally, Rs662billion had been set aside for the development budgets of 31 federal ministries and divisions.

The largest sectoral allocations include Rs140billion for water resource projects, Rs104 billion for electricity projects, Rs24.71billion for railways, and Rs11.55 billion for the Ministry of Defence.

A proposed budget of Rs12.32billion has been allocated to the Ministry of Planning for its development schemes.

According to sources, the budget for the N-25 highway project in Balochistan has been revised downwards, with Rs100billion approved instead of the previously proposed Rs120billion.