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NEC likely to enhance sanctioning powers of CDWP.

ISLAMABAD, 01 June, 2009 (Balochistan Times) -- The National Economic Council (NEC), which is scheduled on Thursday June 4, with Prime Minister Syed Yusuf Raza Gilani in the chair, is expected to consider enhance the powers of Central Development Working Party (CDWP) for sanctioning development schemes. The CDWP, currently, is authorised to sanction projects up to Rs 500 million for the federal government and projects exceeding this limit are submitted for approval to the Executive Committee of the National Economic Council (ECNEC). Sources in the Planning Commission told reporter that recommendations would be put before the NEC to enhance the sanctioning powers of CDWP from existing Rs.500 million. The NEC would also review federal Public Sector Development Program (PSDP) and provincial Annual Development Plans (ADPs) 2008-09, besides approving PSDP and ADPs of 2009-10. The meeting would also review ADPs 2008-09 and proposed ADPs 2009-10. During the meeting the approach papers on the 10th Five Years Plan (2010-15) and other economic indicators would also come under discussion. The sources said that power and irrigation projects would be given preference in Public Sector Development Programme (PSDP) of financial year 2009-10. Work on ongoing development projects would continue as it would be loss of resources if work on projects nearing completion is abandoned, sources said adding that the projects related to irrigation and power would be given preference while starting new projects. The sources added that the development of social sector was as vital as development of infrastructure because both the sectors go hand in hand in the countrys welfare. Sources said that budgetary proposals and recommendations have been sent to Federal Board of Revenue (FBR) for the finalization adding that national budget for the financial year 2009-10 would be announced on June 13 (Saturday).

(THROUGH ASIA PULSE)
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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Jun 1, 2009
Words:295
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