ISLAMABAD — In an emergency effort to absorb a glaring Rs800 billion revenue shortfall for the current year, the National Economic Council (NEC) is meeting today following a broader structural agreement between the PML-N and PPP to slash development envelopes across all tiers of the federation. Under the high-stakes agreement, provincial shares from the federal divisible pool will stay frozen at their current positions, meaning any additional FBR revenue generated next year will be completely retained by the Centre. Consequently, the combined Annual Development Programmes (ADPs) originally pitched at Rs4.715 trillion are being aggressively revised downward, effectively eliminating several new regional infrastructure portfolios.
