The government is considering to establish an institutional mechanism to improve the efficiency of economic ministries and better coordination between them and to entrust the task of monitoring the implementation of the IMF program to the Prime Minister House.
Contemplating Entrusting IMF Program
Informed sources have told The News that the prime minister has been told by some key members of his team of experts that the prime minister may consider chairing the ECC himself if he wishes.
It is believed to indicate the highest political leadership and the direction of economic affairs. The Cabinet Division is also considering a proposal to set up a special unit to monitor the implementation of ECC decisions.
Sources said that the work of ministries of economic nature has been divided, which was discussed extensively and the issue was acknowledged. Hence the need for a better institutional mechanism emerged to put the country on the big agenda of getting out of the current economic quagmire and achieve sustainable economic growth and self-reliance.
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A top government source said, “The federal government should put in place more robust institutional mechanisms to coordinate programs and interventions.