President Asif Ali Zardari has given his approval for the establishment of the National Economic Council (NEC), a pivotal step towards bolstering economic governance in Pakistan.
Prime Minister Shehbaz Sharif has been appointed as the chairman of the NEC, while the four chief ministers will also be part of the council, ensuring representation from all provinces.
Additionally, Prime Minister Sharif has nominated four key members to be part of the council, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Defense Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, and Planning Minister Ahsan Iqbal.
Furthermore, the council includes Marriyum Aurangzeb from Punjab, Jam Khan Shoro from Sindh, Khyber Pakhtunkhwa chief minister's finance adviser Muzammil Aslam, and Balochistan Planning Minister Zahoor Buledi.
According to a notification, the NEC's first order of business will be to review the annual plan for the current financial year during its inaugural meeting scheduled for June 10. The council is also scheduled to approve the annual plan, Public Sector Development Programme (PSDP), and 13th Five-Year Plan for the upcoming financial year.
One of the primary responsibilities of the National Economic Council will be to sanction the annual development programs of the provinces and government entities for the next fiscal year, ensuring coherent and strategic allocation of resources to drive economic growth and development nationwide.
