Islamabad, May 19, 2024 — PM Shahbaz includes Jahangir Tareen in economic advisory body.
Prime Minister Shehbaz Sharif has formed a new eight-member Economic Advisory Council (EAC) just weeks ahead of the budget 2024-25 announcement.
In a surprising move, the council does not include Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb, both of whom play pivotal roles in the Cabinet Committee on Privatisation (CCOP) and the Economic Coordination Committee (ECC), respectively.
These committees are crucial in shaping and executing the government’s economic and financial policies.
The newly constituted economic advisory body, chaired by PM Shahbaz Sharif himself, features notable business leaders and technocrats including Jahangir Tareen, the founder of the Istehkam-e-Pakistan Party (IPP).
Also read: Jahangir Tareen resigns as IPP chairman after losing election
The council also includes Sauqib H. Sherazi, Shahzad Saleem, Musadaq Zulqurnain, Dr. Ijaz Nabi, Asif Peer, Zaid Bashir, and Salman Ahmed.
This diverse group is tasked with advising the Prime Minister on critical economic issues, aiming to incorporate their expertise into the upcoming budget.
The exclusion of Dar and Aurangzeb from the EAC is particularly intriguing given their significant influence within the CCOP and ECC.
These bodies are instrumental in driving the government’s economic agenda, raising questions about the strategic direction and internal dynamics of the current administration.
The formation of the EAC underscores the government’s commitment to seeking input from leading business figures and economic experts.
The council’s primary objective is to provide concrete recommendations to revive sluggish economic activities and foster growth, especially under the stringent fiscal and monetary policies prescribed by the International Monetary Fund (IMF).
With the 2024-25 budget expected to be unveiled in early June, the EAC’s role is critical.
There is cautious optimism about whether this council will differ from previous advisory forums, which have often been criticized for functioning more as debating clubs rather than contributing substantive policy recommendations.
The effectiveness of the EAC in delivering actionable insights will be crucial in shaping Pakistan’s economic landscape amid challenging fiscal conditions.
