ISLAMABAD, May 15: Prime Minister Yousuf Raza Gilani has constituted an economic advisory council for formulation and implementation of policies and a reforms agenda to steer the country out of the current crisis.

An official announcement said on Thursday that the finance minister would be the council’s chairman and Shaukat Tareen its convener.

Its members are: Planning Commission deputy Chairman Salman Farooqi, Hina Rabbani Khar, Shahnaz Wazir Ali, Bashir Ali Mohammad, Mian Tariq Saigal, Farooq Rehmatullah, Saleem Raza, Saqib Shirani and the finance secretary.

The need for the council arose because of the resignation of Finance Minister Senator Ishaq Dar along with other federal ministers belonging to the Pakistan Muslim League-N. The new finance secretary has been posted only a couple of weeks ago and the coalition government is due to present its first budget next month.

Federal Minister for Privatisation and Industries Syed Naveed Qamar has been given the additional charge of the finance ministry.

Hina Rabbani Khar, who was a member of the finance team of former premier Shaukat Aziz, has also been made special assistant to the prime minister on finance and economic affairs with the status of a minister of state.

PPI adds: A meeting between the prime minister and Pakistan People’s Party co-chairman Asif Ali Zardari held on Thursday decided that federal Minister Sherry Rehman would have the additional charge of women’s division, Shah Mehmood Qureshi of petroleum and natural resources, Chaudhry Ahmad Mukhtar of commerce and Nazar Mohammad Gondal of agriculture.