PM Imran Khan reconstitutes Economic Advisory Council, finance minister to chair in his absence

• Change in EAC made to recommend macro-economic stabilisation measures.
• The Minister for Finance and Revenue will be the Vice-Chairman.
• EAC shall include private sector members as well as official members.

Prime Minister Imran Khan has approved the re-constitution of the Economic Advisory Council (EAC), following which the finance minister can chair the meeting in his absence, the Finance Division said in a statement on Saturday.

In the statement, the Finance Division said the change was made to recommend macro-economic stabilisation measures and carry forward the reform agenda for robust and sustained economic growth.

The Minister for Finance and Revenue will be the Vice-Chairman, however, in the prime minister's absence, he may chair the meeting.

"The EAC shall include private sector members as well as official members," it added.

The council will have an advisory and capacity enhancement relationship with the government. "It will engage with economic institutions collaboratively and synergetically."

Moreover, it will follow the consultative process and suggest policy initiatives that "will further strengthen and optimise financial and economic policies".

"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," it said.

​The statement said the re-constitution aims at framing an agenda for economic reforms in an "entirely non-partisan manner".