National economic council convenes to review budget 2024-25 plans.

As the government prepares to present the Budget 2024-25 to the National Assembly, the National Economic Council (NEC) is meeting today, chaired by Prime Minister Shehbaz Sharif, to evaluate current and future investment strategies and set targets for the upcoming fiscal year.

The timing of this meeting is crucial as the government aims to boost the development budget, supported by assurances of Chinese investment and the anticipation of a new IMF program.

Last week, President Asif Ali Zardari approved the formation of the NEC—a 13-member constitutional body outlined in Article 156. This council, led by the prime minister, includes the chief ministers of the four provinces and four members nominated by the prime minister, along with one representative from each provincial chief executive.

Currently, the NEC members selected by Prime Minister Shehbaz Sharif are federal cabinet members Ishaq Dar, Khawaja Asif, Muhammad Aurangzeb, and Ahsan Iqbal. Provincial representatives include Marriyum Aurangzeb (nominated by Punjab Chief Minister Maryam Nawaz), Jam Khan Shoro (Sindh), Muzammil Aslam (Khyber Pakhtunkhwa), and Zahoor Buledi (Sindh).