President reconstitutes NEC

President Dr Arif Alvi has reconstituted the National Economic Council (NEC) by replacing Makhdoom Khusro Bakhtair, Minister for National Food Security and Research with Asad Umar, newly appointed Minister for Planning, Development and Reform.

According to the new notification issued by the Cabinet Division which repeals the notification of May 15, 2019, NEC will now comprise of 13 members under the chairmanship of the prime minister and four chief ministers, Adviser to the PM on Finance and Revenue, Abdul Hafeez Shaikh Adviser to the PM on Commerce, Industry and Production, and Investment Abdul Razak Dawood, Adviser to the PM on Institutional Reforms and Austerity Dr Ishrat Hussain, Provincial Minister of Punjab for Finance Hashim Jawan Bakht, Provincial Minister of Khyber Pakhtunkhwa for Finance Taimur Saleem Khan Jhagra.

Senior politician Nisar Khuhro from Sindh and Jan Mohammad Jamali from Balochistan are also included in the Council. KP Governor Shah Farman, Azad Jammu and Kashmir Prime Minister Raja Farooq Haider Khan, Deputy Chairman Planning Commission Dr Muhammad Jahanzeb Khan and Secretaries of Finance, Planning, Development and Reform. Economic Affairs Division (EAD) will also attend the meetings of the NEC by special invitation for all items on the agenda.

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, formulates plans with respect to financial, commercial and economic policies and economic development, and approves 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 meetings of the National Economic Council shall be subject to Article 156 of the Constitution and Rules 22 of the Rules of Business, 1973.