The Federal government has constituted a high powered 21 member Economic Advisory Council (EAC).
The EAC shall be chaired by the Prime Minister, the members included are Shahid Khaqan Abbasi, Ahsan Iqbal Chaudhary, Miftah Ismail, Saleem Mandviwalla, Marriyum Aurangzeb, Dr Ayesha Ghous Pasha, Mussadiq Malik, Tariq Pasha, Mian Muhammad Mansha, Mohammad Ali Tabba, Arif Habib, Asim Hussain, Atif Bajwa, Faisal Farid, Aurangzeb, Waqar Ahmad Malik, MD/CEO Fauji Foundation, Salman Ahmed, Shahzad Salim, Rahman Naseem, Musadaq Zulqarnain and Dr.ljaz Nabi.
Document states that EAC is being established to review and formulate economic policies in a more holistic manner.
The EAC will advise on short term macro-economic stabilization as well as structural reforms for stable and sustained economic progress and it will be convened on weekly basis on the issues of national economic importance.
In addition, EAC will also review the overall economic condition of the country and propose possible corrective measures considering available resources of the country.
The EAC will also 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 and protection.
It will also review the existing market imperfections in the various important sectors of the economy in order to promote competition by correcting the market distortions and to advise the government ministries, organizations, bodies and various project implementing agencies in formulating evidence-based policies.
The forum will also help in finding the technical expertise and human resource that may be required to carry out the requisite financial and economic analysis.
Document states that EAC will meet once a week (virtually/ in-person) and specific sub-committees will be formed for focused work with the timelines and defined scope. The EAC may co-opt any other member as per requirement.
