National Economic Council formation delayed before budget presentation

ISLAMABAD: The federal budget presentation is set to be unveiled in parliament on June 12 and yet the formation of the National Economic Council is lagging behind.

The council typically approves the budget outline before it is revealed in parliament. However, the exact budget presentation date is unconfirmed as Prime Minister (PM) Shehbaz Sharif is still on official visit of china.

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After Shehbaz’s return on Sunday, the National Economic Council formation would be recommended, subject to President Asif Ali Zardari’s approval.

The PM is expected to chair the council, with provincial chief ministers (CMs), the PM of Azad Kashmir, and the CM of Gilgit-Baltistan included. The council will also comprise both, federal and provincial finance ministers.

The delay in forming the National Economic Council has raised concerns about the budget presentation timeline. Its approval of the budget outline typically precedes the survey launch and presentation in parliament.

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According to sources, the council will form following Shehbaz’s return from China. Following his recommendation, the president approved the formation. Subsequently, the cabinet division issued a notification announcing the formation of the council.