ISLAMABAD: The federal cabinet is likely to approve the nomination of eminent economists to be included the Monetary and Fiscal Policies Coordination Board.
Sources said that a meeting of the federal cabinet in this regard will be held under the chair of Prime Minister Imran Khan here on Tuesday. “The meeting will take up 18 agenda items, including the nominations for the coordination board,” they added.
A few days ago, it was reported that the government might abolish the board under pressure from the central bank and the IMF.
According to details, the Ministry of Finance has proposed the names of Dr Ijaz Nabi, Dr Syed Muhammad Hassan Shah, and Dr Azam Chaudhry for the board which is to ensure effective coordination between fiscal and monetary authorities.
It is pertinent to note that Dr Ijaz Nabi is also a member of the prime minister’s Economic Advisory Council (EAC).
Federal Minister for Finance Shaukat Tarin has already announced that the Cabinet on Tuesday will approve the finance supplementary bill along with the State Bank of Pakistan (SBP) amendment bill which deals with the finance minister and SBP governor’s role under the Monetary and Fiscal Policies Coordination Board.
Both the officials will establish a close liaison through a mutual agreement with each other and shall keep each other fully informed on all matters under this board.
Further, the Cabinet will also give approval to the inclusion of Mahmood Mandviwala in the Securities Exchange Commission of Pakistan (SECP) members.
It may be recalled that the slot of chairman SECP policy board had fallen vacant after the resignation of Syed Masoud Naqvi.
The Cabinet will also take up the agenda of the Ministry of Finance with regard to the appointment of directors on the board of house building finance company limited (HBFCL).
The Ministry of Federal Education and Professional Training division will present the draft of Inter Board Coordination Commission Act, 2021 whereas the Economic Affairs division has also proposed to constitute an inquiry commission in the Sajid Majeed Chaudhry case.
Moreover, the Cabinet will also rectify the decision taken by Cabinet Committee for disposal of Legislative Cases (CCLC) in its meetings held on December 16 and 17.
