RAWALPINDI: The National Economic Council today (May 24) approved the outlines of the Third Five-Year Plan which involves a total expenditure of Rs4,350 crores.

The Third Plan, to be implemented during 1965-70, is split into Rs2,850 crores in the public sector and Rs1,500 crores in the private sector.

The outlines were approved by the National Economic Council meeting today, under the chairmanship of President Ayub Khan.

After allowing for a shortfall to the extent of 10 per cent in the public sector, a gross development outlay of Rs3,200 crores will be budgeted in the public sector. Of this, Rs350 crores will be for the development programme of the Central Government, Rs1,500 crores for East Pakistan and Rs1,350 crores for the West Wing.

The Foreign Exchange component of the Third Plan will be around 30 per cent as against 37 contemplated for the current Second Plan.

Presenting the outlines of the Third Plan to the Economic Council, the Deputy Chairman, Planning Commission, outlined the five-point objective which envisages 30 per cent increase in national income against 24 per cent during the Second Plan and regional income to 34 per cent in the case of East Pakistan and 27 per cent for West Pakistan. — Staff Correspondent