ISLAMABAD: Prime Minister Imran Khan has reconstituted the Executive Committee of National Economic Council (Ecnec) to fill the void created after the exit of former finance minister Dr Abdul Hafeez Sheikh.

According to a notification issued by the Cabinet Division, Finance Minister Shaukat Fayaz Ahmed Tarin will be the chairman of the eight-member inter-provincial decision-making body on development.

All other members of the Ecnec earlier reconstituted in January this year would remain unchanged. They include Minister for Planning Asad Umar, Minister for Industries Makhdoom Khusro Bakhtyar and Minister for Energy Hammad Azhar, representing the federal government.

In addition to these members, Ecnec would also continue to include four provincial members; Finance Minister Punjab Makhdum Hashim Jawan Bakht, Nisar Ahmed Khuhro from Sindh, Khyber Pakhtunkhwa Finance Minister Taimur Saleem Jhagra and Balochistan Minister for Communication and Works Nawabzada Tariq Khan Magsi.

The deputy chairman Planning Commission, Dr Ishrat Husain and Abdul Razak Dawood besides federal secretaries of economic affairs, finance and planning and development and chairmen of Punjab and Sindh Planning and Development Boards and additional chief secretaries for development from Balochistan and KP would be invited to all meetings. In addition, the relevant officials of federal and provincial governments as well as of the government of AJ&K and Gilgit-Baltistan shall be invited to the meetings on a need basis.

Under financial rules, Central Development Working Party (CDWP) has the powers to approve up to Rs10bn worth of development schemes and refer projects of higher costs to Ecnec for approval. Finally, the budget allocations for all development schemes are made by or authorised by the National Economic Council — the country’s highest economic decision-making body — led by prime minister and represented by four provincial chief ministers.

Published in Dawn, May 18th, 2021