Formation of ‘National Economic Security Council’ proposed
Fiscal adjustment efforts, addressing worsening trade balance, mitigating political and economic uncertainty will result in slowdown in economic growth in the next fiscal year. Photo: file
Amid the growing economic complexities, the Sustainable Development Policy Institute (SDPI), a leading think tank, has proposed to form a National Economic Security Council on the lines of the National Security Council.
The Council, if formed, will comprise the government, leaders of the opposition in the Parliament (National Assembly and Senate), all the four chief ministers and the representatives from the top military brass.
The proposed Council should agree on a five-year economic road map on debt sustainability, energy circular debt management, reform of state-owned enterprises, and resource mobilisation. Such a roadmap developed through a consensus should be binding for all political parties and they should agree not to oppose those damage control measures just for the sake of opposition.
Floating this proposal, SDPI Executive Director Dr Abid Qaiyum Suleri elaborated that the current economic crisis could not be handled unless all political parties in the parliament and key stakeholders join hands to steer the country out of the ever-growing socio-economic quagmire.
Published in The Express Tribune, July 23rd, 2022.