Pakistan forms economic advisory council to review policies ‘as a whole’ ProIQRA News

News Details

In the midst of the economic crisis in Pakistan, the Ministry of Finance has formed a 21-member Economic Advisory Council to review and further formulate economic policies.

According to a notification issued by the Finance Division on Thursday, the council will be chaired by Prime Minister Shahbaz Sharif. It will advise on short-term macroeconomic stabilization as well as structural reforms for stable and sustainable economic development.

The 21-member council includes Finance Minister Muftah Ismail, Planning and Development Minister Ahsan Iqbal, Information Minister Maryam Aurangzeb, Shahid Khaqan Abbasi, CEO Fuji Foundation Waqar Ahmed, Tariq Pasha and Musaddiq Malik.

Weekly meetings will be convened on issues of national economic importance. Specific sub-committees will be formed to focus on work with timelines and definite scope.

The notification said that “the council will review the overall economic condition of the country and propose possible remedial measures taking into account the available resources of the country.”

Council on the effectiveness of subsidies, protections, and other financial assistance provided by the government to state-owned enterprises (SoEs) and other key sectors of the economy in the context of an analysis of the overall cost and benefits of such subsidies / protections. Will analyze

This will help in finding the technical skills and human resources that may be required for the required financial and economic analysis / study.

Meanwhile, the International Monetary Fund (IMF) has urged Pakistan to control its current account deficit, which has reached .2 13.2 billion in the first nine months of its fiscal year.

On the other hand, falling foreign exchange reserves are putting pressure on the Pakistani currency, which lost value against the US dollar on Thursday. The local currency fell 0.23 percent to close at Rs 185.87.

Follow Samaa English. Facebook, TwitterInstagram And watch live on YouTube.