The newly elected Prime Minister Shahid Khaqan Abbasi has reconstituted the Economic Coordination Committee (ECC) of the cabinet and removed Finance Minister Ishaq Dar as its chairman, revealed the Cabinet Division notification.
Now Prime Minister will serve as the chairman of the ECC after Dar’s removal, said the notification adding that Dar will remain a member of the committee. The Prime Minister himself would take the charge as chairman. However, Dar will remain a member of the committee and will chair meetings of the ECC in case of Abbasi’s absence.
Besides, Finance Minister, ministers for Commerce and Textile, Communications, Industries and Production, Law and Justice, National Food Security and Research, Privatization, Railways, Statistics and Water Resources would serve as members of the ECC.
The ECC has traditionally been chaired by the federal finance minister and the prime minister is not usually involved in its affairs. Its members include the ministers of 11 key federal ministries.
The ECC deliberates on economic matters of urgent importance and coordinates policies initiated by various divisions of the government. According to its charter, it also “maintains vigilance on the monetary and credit situation and drafts proposals for the regulation of credit in order to maximize production and exports and to prevent inflation”.