*ISLAMABAD – Prime Minister Imran Khan has summoned the first EconomicAdvisory Council meeting.*
*He will chair the first meeting of newly-formed Economic Advisory Council(EAC). *
The meeting is expected to deliberate on the key issue, faced by newPakistani government lately, of whether or not to approach InternationalMonetary Fund (IMF) for a bailout package to cushion the current economicturmoil in the country.
Furthermore, discussion on overall economic situation, collection of taxes,increase in exports, countering the trade and current account deficit arealso likely to be the part of meeting’s agenda.
On August 31, Finance Minister Asad Umar told the Senate that thegovernment needs $9 billion to run Pakistan.
He said Pakistan, as per the budget, need $9 billion to run the country.”Weare trying to address the root cause that compels us to borrow these $9bn.Off course, we know any policy will take time to yield results,” he added.
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The minister added that the decision to approach the International MonetaryFund (IMF) for loans will be taken after consultations and taking theparliament into confidence.
Earlier this week, Prime Minister Imran Khan constituted an 18-memberEconomic Advisory Council to ensure the availability of best possibleprofessional advice to the government.
The 18-member council includes renowned economist Dr Farrukh Iqbal whoserves as the director of Institute of Business Administration (IBA), DrAshfaque Hassan Khan, the dean of the National University of Science andTechnology and former Governor of State Bank of Pakistan Syed Salim Raza.
Other members of the EAC include Dr Ijaz Nabi who is a law professor at theLahore University of Management Sciences (LUMS), Dr Abid Qaiyum Sulehri theexecutive director of the Sustainable Development Policy, as per thenotification.
