ISLAMABAD – Prime Minister Imran Khan has laid down the foundation stoneof Naya Pakistan on Saturday.
He believes in institution building and today has made the much desiredeconomic institution in Pakistan.
The biggest challenge Pakistan faces today is of crashing economy in formof debts.
He formed an Economic Advisory Council to ensure the availability of bestpossible professional advice to the government.
The Economic Advisory Council shall be chaired by the Prime Ministerhimself, whcih will help to optimise and synergise the formulation andimplementation of economic and financial policies of the government.
It comprises some of the most learned and well-respected experts, academicsand practitioners of the field who are currently serving in, or have richexperience with, amongst the most advanced academic institutions and otherspecialised organisations in Pakistan and abroad.
The Advisory Council will comprise of 18 member among whcih 11 memberswould be from the private sector.
The members of the Advisory Council from private sector include Dr FarrukhIqbal, Dr Ashfaque Hasan, Dr Ejaz, Dr Abdul Qayum Suleri, Dr Asad Zaman, DrNaveed Ahmed, Syed Salim Raza, Sakib Sherani, Dr Atif Mian, Dr Asim Ejazand Dr Imran Rasool.
Official members are Minister for Finance, Revenue & Economic Affairs,Minister for Planning and Development, Secretary of the Finance Division,Governor State Bank, Adviser on Institutional Reforms, Adviser on Commerceand Deputy Chairman of Planning Commission.
The Economic Advisory Council will meet at least once a month and itsmandate will be to advise the government on both short-term macroeconomicstabilisation interventions and long-term structural reforms for stable andsustained economic development.
The Council is expected to play a pivotal role in strengthening thecapacity of the government to design and introduce sound and effectivepolicies for rapid and continued social and economic advancement, humanresource development, improvement of business processes, and strengtheningof data services.
The Council will also facilitate capacity building of the government inconducting policy analysis and will assist in reaching out to theinternational network of recognised economists to contribute to Pakistan’sdevelopment.
The Finance ministry will be the nodal government agency for the EAC, whichwill function in an entirely non-partisan manner and is expected tostrengthen existing state institutions in a collaborative and concertedmanner.