PM decides to form of the National Economic Council

Prime Minister Shehbaz Sharif seeks proposals from economic experts on financial stability

Prime Minister (PM) Shehbaz Sharif has directed to prepare suggestions and recommendations on emergency basis to cope with the serious economic challenges confronting Pakistan.

According to the details, a meeting of economists was held under the chairmanship of PM Shehbaz Sharif in which the dire economic situation of the country was discussed in detail. The meeting also decided to form a National Economic Council (NEC).

According to a statement issued by the Prime Minister’s Office, PM Shehbaz Sharif directed the economists at the meeting to prepare recommendations on an emergency basis. The PM directed the country to come out of the dire situation and economic challenges.

Shehbaz Sharif made these instructions, while chairing an emergency meeting of economists in Islamabad today after formally assuming office of the Prime Minister. He called for making comprehensive recommendations on policy options so that concrete steps can be taken.

The Prime Minister also directed to formulate comprehensive proposals for providing relief to the people and controlling inflation. He also issued special instructions for monitoring the Ramadan Bazaar during the holy month and for immediate reduction in prices of essential commodities.

During the meeting, the Secretary Finance gave a briefing on the country’s economic situation, revenue and budget deficits. The PM was briefed on the internal and external debt situation and the overall national balance sheet.

Shehbaz Sharif said that in view of the economic situation and serious financial risks, the immediate medium and long term targets should be clearly defined, comprehensive recommendations on policy options should be made so that concrete steps can be taken.

The premier also directed to formulate comprehensive proposals for providing relief to the people and controlling inflation. The Prime Minister also issued special instructions for monitoring the Ramadan Bazaar during Ramadan and for immediate reduction in prices of essential commodities.

Shehbaz Sharif said that it was necessary to move forward with the best balance between national and public interests.

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