President Alvi reconstitutes National Economic Council

ISLAMABAD: President Arif Alvi has reconstituted the National Economic Council (NEC), according to a notification issued by the Cabinet Divison on Saturday.

The NEC will now comprise of 13 members under the chairmanship of Prime Minister Imran Khan, and four provincial chief ministers, Adviser on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh,  Advisor on Commerce, Textile, Industry and Production, and Investment Abdul Razak Dawood, Adviser on Institutional Reforms and Austerity Ishrat Hussain, Provincial Minister of Punjab for Finance Hashim Jawan Bakht, Provincial Minister of Khyber Pakhtunkhwa for Finance Taimur Saleem Khan Jhagra.

From Sindh senior politician Nisar Khuhro and Jan Mohammad Jamali from Balochistan are also included in the council. Asad Umar has been appointed a member of the NEC, while Khusro Bakhtiar’s council membership has been terminated.

KP Governor Shah Farman, Azad Jammu and Kashmir Prime Minister Raja Farooq Haider Khan, Planning Commission Deputy Chairman Dr Muhammad Jahanzeb Khan and secretaries of finance, planning, Economic Affairs Division will also attend the meetings of the National Economic Council by special invitation for all items on the agenda.

An official announcement said: “President Arif Alvi on the advice of the prime minister has reconstituted the National Economic Council under Article 156(1) of the Constitution.”

In addition, a number of other persons are invited to attend the meetings of the NEC as and when the agenda relates to matters concerning them.

The NEC reviews the overall economic situation in the country, formulate plans with respect to financial, commercial and economic policies and economic development, and approve five-year plans, annual development plans and provincial development schemes in the public sector above a certain financial limit and all non-profit projects. It may appoint committees or bodies of experts to assist it.

Other federal secretaries and chief secretaries of the provinces, Azad Jammu and Kashmir and Gilgit-Baltistan will attend the meetings of the National Economic Council, by special invitation, on need basis.

The meeting’s of the National Economic Council shall be subject to Article 156 of the Constitution and Rules 22 of the Rules of Business, 1973.