ISLAMABAD: The Ministry of Planning and the Planning Commission have constituted a 25-member high-powered policy board to boost transparency and refine the country’s economic planning process with significant involvement from the private sector.

The policy board, chaired by Federal Planning Minister Ahsan Iqbal, comprises distinguished people from various fields, including former federal ministers, industrial leaders, academic experts, and international professionals.

Mr Ahsan was dissatisfied with the government’s decision not to award him the additional Planning Commission deputy chairman position. Dr Jehanzeb Khan, a veteran bureaucrat and close confidant of Prime Minister Shehbaz Sharif, was appointed deputy chairman of the caretaker government and remained in that capacity until last week.

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According to sources, Mr Ahsan was unhappy with PM Shehbaz’s choice to keep Mr Jehanzeb in the same position. Mr Ahsan was given the position following the intervention of PMLN president Nawaz Sharif.

Mr Ahsan was also dissatisfied with PM Shehbaz’s task force, which was led by Oxford University’s Professor Stephan Dercon. The national economic revival plan created by this task force was planned to be announced on Aug 14, but it was postponed due to disagreement within the PMLN.

The sources said that Deputy Prime Minister Ishaq Dar is now working on the national economic policy, and Planning Minister Ashan Iqbal will also contribute.

Finance Minister Muhammad Aurangzeb has also been sidelined for developing Indigenous policies. Mr Dar will now finish the strategy, taking over the earlier task team established by the prime minister.

According to the TORs of the board, the policy board has been tasked with several critical responsibilities. It will provide advisory on policy formulation and strategy development, offering guidance on policies and strategies to promote mid- and long-term economic growth.

Additionally, the board will offer insights on national and international economic issues, reviewing macroeconomic trends and providing economic outlooks to inform policy decisions. The board will also evaluate national plans and economic reports to offer recommendations, assess socio-economic trends to support evidence-based policy advice, and advise on policies to enhance national innovation and competitiveness.

The board will integrate sustainable development goals into national economic strategies, facilitate dialogue with key stakeholders, and promote international cooperation. It will also review the impact of major economic policies to evaluate their effectiveness.

Published in Dawn, September 8th, 2024