ISLAMABAD – Prime Minister Shehbaz Sharif has constituted a 21-member Economic Advisory Council (EAC) as Pakistan faces widening current account deficit, depleting foreign reserves and skyrocketing inflation.
Following the ouster of former prime minister Imran Khan through a no-confidence vote, the new government of coalition parties has promised to provide immediate relief to public by overhauling the economic policies of its predecessor.
A notification issued by the Ministry of Finance said that the new economic advisor body will review and formulate economic policies in a more holistic manner.
EAC would advise the government on short term macro-economic stabilization as well as structural reforms to ensure economic stability in the country.
The members of council include Shahid Khaqan Abbasi, Ahsan Iqbal Chaudhary, Miftah Ismail, Saleem Mandviwalla, Ms. Marriyum Aurangzeb, Dr. Ayesha Ghous Pasha, Mussadiq Malik, Tariq Pasha, Mian Muhammad Mansha, Mohammad Ali Tabba, Arif Habib, Dr. Asim Hussain, Atif Bajwa, Faisal Farid, Aurangzeb, HBL, Waqar Ahmaf Malik, MD/CEO Fauji Foundation, Salman Ahmed, Shahzad Salim, Rahman Naseem, MusadaqZulqarnain and Dr. ljazNabi.
Initially, the EAC will be convened on weekly basis on the issues of national economic importance. It has authority to constitute sub-committees for specific tasks with clear deadlines.
It would analyze the effectiveness of subsidies, protection and other financial support by the government to the State Owned Enterprises (SoEs) and other vital sectors of the economy in context of overall cost and benefit analysis of such subsidies/protection.
PM Shehbaz Sharif announces economic relief for public in his first address
