ISLAMABAD: Prime Minister Imran Khan on Saturday approved the reconstitution of the Economic Advisory Council (EAC), which will recommend macro-economic stabilization measures and carry forward the reform agenda for robust and sustained economic growth.
As per the details, the EAC shall be chaired by the prime minister and the minister for finance and revenue shall be the vice chairman. In the absence of the premier, the vice chairman will chair the meeting.
The private sector members include Abid Suleri, Arif Habib, Asif Quershi, Ejaz Nabi, Farooq Rahmatullah, Mohammad Ali Tabba, Dr Rashid Amjad, Salman Shah, Shaukat Tarin, Dr Shamshad Akhtar, Sultan Allana, Syed Salim Raza and Zaid Ali Mohammad.
On the other hand, the ministers for energy, planning, development and reform, industries and production, national food security and economic affairs would also be the members of the EAC.
Similarly, advisers to PM on commerce, institutional reform, overseas Pakistanis, power and petroleum, special assistants to PM on revenue, BOI chairman, and SBP governor would also be the official members of the EAC.
The EAC will have an advisory and capacity enhancement relationship with the government of Pakistan.
It will engage with economic institutions collaboratively. Moreover, The EAC will follow the consultative process and suggest policy initiatives that will further strengthen and optimise financial and economic policies in order to enhance their welfare impact for the citizens.
The ultimate goal of the EAC is to promote analytically sound and evidence-based reforms and initiatives after taking all stakeholders on board. The ministry of finance will be the nodal government agency for the EAC.
The reconstitution of the EAC is aimed at framing an agenda for economic reforms in an entirely non-partisan manner and promoting an active and informed debate that leads to sound policymaking, analytical vetting and active monitoring.
Imran Khan is attempting to demonstrate his strength by reconstituting the EAC, and he wants to give a message to the general public that his decisions are not to blame for the poor condition of the economy. But, as everyone knows, the army in Pakistan wields more power than Imran Khan, and Imran Khan cannot make such a decision without the army’s permission. Following the public outcry against Imran Khan in recent days, attempts are being made to improve his image with such decisions.