ISLAMABAD: Prime Minister Imran Khan reconstituted the Economic Coordination Committee (ECC) and appointed Finance Minister Asad Umar as its chairman.
According to the notification issued by cabinet division, ECC will be comprised of 12 members.
Ministers for law and justice Farogh Naseem, petroleum Ghulam Abbasi, planning & development Khusro Bakhtiar and railways Sheikh Rashid Ahmed, prime minister’s advisers on commerce and textiles Razak Dawood and institutional reforms and austerity Dr Ishrat Husain have been appointed members of committee.
In addition, six more ministers — communications, national food security, power, privatisation, statistics and water resources — will also be appointed members of the ECC after their appointment.
PM Khan has declined to lead the ECC while entrusting Umar to run the affairs of the economic decision-making body.
Previously, the ECC was being run by former prime minister Shahid Khaqan Abbasi after replacing the finance minister at the time, Ishaq Dar. The first meeting of the ECC is scheduled to be held on Wednesday.
ECC is a key consultative forum used by the prime minister of Pakistan for matters concerning the state’s economy. It also maintains vigilance on the monetary and credit situation, oversees monetary regulations, import, exports and inflation. The ECC also issues licences for local and foreign oil exploration companies.