ISLAMABAD – The government has reconstituted the Executive Committee of the National Economic Council (ECNEC) with Federal Minister for Finance and Revenue Shaukat Fayyaz Ahmed Tarin as its chairman.
According to a notification issued by the cabinet division, finance minister Shaukat Fayyaz Ahmed Tarin would chair the ECNEC meetings after government has removed two finance ministers in last few weeks. The PTI government has removed Abdul Hafeez Shaikh from the post of finance minister, and Muhammad Hammad Azhar was given the additional charge of the minister for finance and revenue. However, the government also replaced Hammad with Tarin as finance and revenue minister.
The government now appointed Shaukat Fayyaz Ahmed Tarin as head of the ECNEC. Other members of the ECNEC are federal minister for planning and development Asad Umar, federal minister for energy Muhammad Hammad Azhar, federal minister for industries and production Makhdoom Khusro Bakhtyar, would continue to be the federal member. In addition to these members, ECNEC would also continue to include four provincial members; finance minister Punjab Makhdoom Hashim Jawan Bakht, Nisar Ahmed Khuhro from Sindh, KP finance minister Taimur Saleem Jhagra and Balochistan minister for communication and works Nawabzada Tariq Khan Magsi.
The deputy chairman planning commission, Dr Ishrat Hussain and Abdul Razak Dawood besides secretaries of economic affairs, finance and planning and development would be invited to all meetings while representatives of federal and provincial governments as well as of the government of AJ&K, Gilgit-Baltistan and Fata shall be invited to the meetings on a need basis.
According to the Charter of ECNEC’s functions, it would sanction development schemes (in the public sector) pending their submission to the national economic council. The ECNEC would allow moderate changes in the plan and sectoral re-adjustments within the over-all plan allocation. It would supervise the implementation of the economic policies laid down by the cabinet and the national economic council, and any other matter, referred to the committee by the prime minister, the national economic council, the CCI or the cabinet or raised by a member in the committee with the permission of the chairman.