ISLAMABAD, Apr 03 (APP): The Prime Minister has approved the re-constitution of Economic Advisory Council (EAC) to recommend macro-economic stabilization measures and carry forward the reform agenda for robust and sustained economic growth, Finance Ministry said in a statement here Saturday.
The EAC would be chaired by the Prime Minister whereas Minister for Finance and Revenue would be the Vice Chairman of the council .
In the absence of the Prime Minister, the Finance Minister may chair the meeting, the statement said adding the EAC would include private sector members as well as official members.
According to the statement, the Economic Advisory Council would have an advisory and capacity enhancement relationship with the government of Pakistan.
It will engage with economic institutions collaboratively and synergtically. The EAC would follow the consultative process and suggest policy initiatives that would further strengthen and optimize financial and economic policies in order to enhance their welfare impact for the citizens.
The ultimate goal of the EAC is to promote analytically sound and evidence based reforms and initiatives after taking all stakeholders on board. The Ministry of Finance will be the nodal government agency for the EAC.
The re-constitution of Economic Advisory Council is aimed at framing an agenda for economic reforms in an entirely non-partisan manner and promoting an active and informed debate that leads to sound policy making, analytical vetting and active monitoring as envisaged by the leadership for sustained institutional reforms and modernization of the Public Sector and enhance public welfare, the statement added.
