ISLAMABAD – While reversing his earlier decision, the Prime Minister of Pakistan has withdrawn his name as chairman Economic Coordination Committee (ECC) of the Cabinet, and appointed Finance Minister to lead the ECC.
Within less than 48 hours, Prime Minister Shehbaz Sharif has reconstituted the ECC of the Cabinet and reversed his earlier division of placing the Prime Minister as Chairman of the ECC, said a notification issued here. “The prime minister, in terms of rule 17(2) of Rules of Business, 1973, has been pleased to reconstitute the ECC of the Cabinet,” says the notification issued by Cabinet Division. On March 21, the prime minister had constituted the ECC of the Cabinet, and instead of appointing finance minister as chairman of the Committee, the prime minister himself held the chairmanship of ECC of the cabinet.
Minister for Finance Muhammad Aurangzeb will be the Chairman of the committee. Other members of the committee include Minister for Economic Affairs, Minister for Commerce, Minister for Power, Minister for Petroleum, and Minister for Planning, Development & Special Initiatives.
The ECC will also have 18 members by special invitation/Co-Opted, which includes Deputy Chairman, Planning Commission Governor, State Bank of Pakistan, Chairman, Securities Exchange Commission of Pakistan Secretary, Power Division ,Secretary, Commerce Division, Secretary, Communications Division, Secretary, Finance Division, Secretary, Industries & Production Division, Secretary, Economic Affairs Division, Secretary, Petroleum Division, Secretary, Planning, Development & Special Initiatives Division, Secretary, National Food Security & Research Division Secretary, Privatization Division, Secretary, Railways Division, Secretary, Revenue Division/Chairman, FBR, Secretary, Poverty Alleviation & Social Safety Division Secretary, Water Resources Division and Chairman, Board of Investment.
The ECC will see whether fresh legislation or amendments to the existing laws are in line with the constitutional scheme, not in violation of any existing law, and fall within the mandate of parliament. ECC’s reorganisation comes as Islamabad is seeking a longer and larger size of fresh bailout package under the Extended Fund Facility (EFF) and is expected to engage in negotiations with the Washington-based lender next month.