President Asif Ali Zardari has officially established the National Economic Council (NEC), a key body responsible for evaluating the country’s economic status and creating strategies for balanced development. The council, consisting of top government officials including Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar, is set to play a crucial role in advising on financial, commercial, social, and economic policies.
In accordance with Article 156 of the Constitution, the NEC must convene at least twice a year and report its findings to Parliament. Despite the pressing need for a meeting to discuss the current economic situation and upcoming development plans, scheduling conflicts have delayed the process. PM Shehbaz and Finance Minister Aurangzeb are currently in China, making Saturday the soonest possible date for an NEC meeting.
With the tentative announcement of the budget presentation on June 12 for the next fiscal year, the NEC’s input and recommendations will be vital in shaping the country’s economic trajectory. As the NEC prepares to convene and strategize, the hope is that their efforts will pave the way for sustainable growth and progress in Pakistan’s economy.
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