PM Imran to chair EAC meeting today

ISLAMABAD: Prime Minister Imran Khan has summoned the first meeting of the Economic Advisory Council (EAC) today (Thursday).

According to sources, the 18-member council is expected to discuss whether or not to approach the International Monetary Fund (IMF) for a bailout package along with the economic situation of the country. 

The sources further added, discussion over the collection of taxes, increase in exports, countering the trade and current account deficit are also expected to be discussed in the meeting. 

The meeting is scheduled to take place at 4pm.

Last month, Finance Minister Asad Umar during a Senate session had said, consultations on the current economic situation were under way and a final decision will be taken after taking the Parliament on board.

Earlier this week, the prime minister had reconstituted the EAC, with seven members of the council belonging to the government sector while the remaining 11 belong to the private sector.

The 18-member council includes renowned economist Dr Farrukh Iqbal who serves as the director of Institute of Business Administration (IBA), Dr Ashfaque Hassan Khan, the dean of the National University of Science and Technology and former Governor of State Bank of Pakistan Syed Salim Raza.

Other members of the EAC include Dr Ijaz Nabi who is a law professor at the Lahore University of Management Sciences (LUMS), Dr Abid Qaiyum Sulehri the executive director of the Sustainable Development Policy, as per the notification.

Vice-chancellor of the Pakistan Institute of Development Economics Dr Asad Zaman and Dr Naved Hamed a professor at LUMS are also part of the council.

Moreover, economist Shakib Sherani, Dr Atif Mian, Dr Asim Ijaz and Dr Imran Rasul are also a part of the EAC.