ISLAMABAD – Meeting of Annual Plan Coordination Committee (APCC) has been convened on June 02 in order to review/finalise Annual Plan/PSDP for the ongoing and upcoming fiscal year 2025-26. Meeting of the APCC, which was earlier proposed for May 23 and May 26, has now been convened on June 2, official source told The Nation. Notably, last week the federal government had postponed the meeting of the APCC, which was earlier scheduled on May 26 to review/finalize Annual Plan/PSDP for the ongoing and upcoming fiscal year 2025-26.
APCC is a consultative body which gives recommendations on macroeconomic and development framework to National Economic Council. Minister for Planning, Development and Special Initiative Ahsan Iqbal, who is also Deputy Chairman Planning Commission, will preside over the meeting of the APCC. Three provinces including Punjab, Khyber Pakhtunkhwa, Balochistan, and special areas like Azad Kashmir and Gilgit-Baltistan have nominated the names of their planning/finance ministers for attending the APCC meeting, the source said. However, Sindh is the only province where Chief Minister Murad Ali Shah along with finance and planning minister have been nominated to attend meeting, the source added.
The meeting will review the development portfolio for the ongoing fiscal year 2024-25 and will approve the overall indicative development budget for Federal PSDP, provincial Annual Development Plan (ADP) and annual plan for the upcoming FY2025-26. The Ministry of Planning has sought Indicative Budget Ceiling (IBC) of approximately Rs2.9 trillion for the PSDP for the upcoming fiscal year 2025-26 (PSDP). However, the Finance Division has provided an IBC of Rs 921 billion. Now the minister for planning has requested the Prime Minister for increasing the IBC to Rs1.65 trillion, the source said. The schedule for the NEC meeting has not yet been finalized. The NEC meeting, to be chaired by the PM, will review the national investment plan for 2024-25, and will finalize national investment plan for 2025-26, the provisional GDP growth figures for the outgoing fiscal year FY 2024-25 and finalize figures for previous fiscal year (FY23-24).
