Advisor to the Prime Minister on Finance Dr Salman Shah has asked the members of Task Force on Economic Policy to prepare a comprehensive document outlining the major future economic policies. The document would entail the mechanism to achieve the goals set in the plan to achieve the vision of the Prime Minister for economic and social development.
Dr Shah chaired the first meeting of the recently constituted Task Force here on Tuesday.
The meeting discussed the allocation of various areas of work to the Task Force members who will prepare recommendations for future policies and plans.
The Task Force has been set up under Dr Salman Shah to provide quality input to economic policy formulation and its implementation. The Task Force is also entrusted to improve quality of economic decisions on major economic issues and to endeavour for overall socio-economic development of the country.
The Task Force comprises members from private and public sector including Dr Ali Cheema, Dr Mushtaq Khan, Dr Faisal Bari, Dr Junaid Ahmed and Saqib Sherani.
The ex-officio members include MOS for Finance, Secretary M/O Finance, Chairman CBR, Economic Adviser, Senior Joint Secretary, (Investment) and M/O Finance.
The Task Force will identify major issues on country's economy and formulate strategies to mitigate these, deliberate and propose appropriate measures on revenue relating to Tax Policy Analysis, Tax Administration, Inter-governmental Transfer Systems, and Investment Climate Issues etc. It will also work on the Non-Tax Revenue, ie Innovative financing Instruments for infrastructure financing, Public-Private Partnerships.
The Task Force will streamline and ensure optimal utility of Grants, review the poverty reduction strategy and prioritise poverty reduction expenditure especially on Education, Health and Infrastructure along with sectoral strategies on urban/rural agricultural/Industrial competitiveness.
It will work on the issues relating to Medium Term Budgetary Framework, cater for Macro-economic stability, growth and Investment Strategy, Fiscal policy, Debt Strategy Monetary Policy, exchange rates and Interest Rates Policies, formulate and review measures to improve economic ties with major countries like China, USA, European Union, Japan, Saarc, OIC countries and SA etc. The Task Force will review regulatory reforms introduced by the government to achieve the Policy Impact. Regulations impacting SMEs will also be reviewed.
The Task Force has also been asked to work on improving work on Data availability. Review existing Policies and revamp policies wherever.
Prominent scholars of economics/policy area and senior veteran Pakistanis living abroad will also be encouraged for their inputs on short term assignments.
The members will submit reports on the tasks assigned to them in the next meeting scheduled to be held in the first week of January, 2005.