PM Shehbaz reconstitutes ECC with Aurangzeb as its chairman Forms six cabinet committees to put country's economy back on track
ISLAMABAD, (NNI): Prime Minister Shehbaz Sharif reconstituted the federal cabinet's Economic Coordination Committee (ECC).
According to the official notification, the Economic Coordination Committee has been reconstituted and Federal Finance Minister Muhammad Aurangzeb was appointed as its chairman.
It is pertinent to mention here that earlier prime minister had decided that he would be committee's head.
But in a development on Sunday, he reorganized the committee and handed it over to the finance minister.
The notification stated that the finance minister will head the panel with the four other ministers including economic affairs, commerce, power, petroleum, and planning, development and special initiatives, notified as its members.
It is pertinent to mention here that before the reconstitution of the ECC, Prime Minister used to hold the chairmanship of the Economic Coordination Committee.
Meanwhile, in an effort to resurrect the country's economy, Prime Minister Shehbaz Sharif has constituted six cabinet committees, which will be headed the the not by the federal minister for finance, but by concerned ministers.
According to a report by a private news channel, the Energy Committee will be headed by none other than the prime minister himself, while for the first time, the privatization committee has been placed under the control of the country's foreign minister, who is currently Ishaq Dar.
Hitherto, the finance minister would be its head. The committee has reportedly been assigned the duty to look after the privatization of PIA and other loss-making state-owned entities.
The reason for making the foreign minister the committee's head is that he would also be able to attract foreign investment.
Another committee, which has been tasked with attracting investment from China, especially in the China-Pakistan Economic Corridor (CPEC), has been placed under the control of Ahsan Iqbal, while Finance Minister Muhammad Aurangzeb will lead the government enterprises committee.
Likewise, for the first time in the country's history, the cabinet committee for the disposal of legislative cases has been formed. Federal Law Minister Azam Nazir Tarar will be its head.