Pakistan Approves Ambitious Development Budget Amid Water Disputes

Pakistan's National Economic Council, led by PM Shehbaz Sharif, approves a Rs 4,224 billion development budget with a 4.2% GDP growth target for FY 25-26. The council also addresses the Indus Water Treaty dispute with India, emphasizing the importance of agriculture in boosting foreign exchange and growth.

In a significant move, Pakistan's National Economic Council, spearheaded by Prime Minister Shehbaz Sharif, has sanctioned a national development budget amounting to Rs 4,224 billion. This budget comes with an ambitious GDP growth target of 4.2% for the fiscal year 2025-26.

The meeting, which saw participation from provincial leaders, underscored current economic achievements, including a GDP growth of 2.7% for the current fiscal year ending June 30. However, a central point of concern remains India's abeyance of the Indus Water Treaty, which Sharif has openly criticized, citing its threats to Pakistan's water resources.

Approved initiatives also included the 13th five-year development plan and the Uraan Pakistan Framework. These measures focus on health, education, infrastructure, and more, aiming to reinforce macroeconomic frameworks while fostering inter-ministry collaboration to meet the country's set targets.