PM Shehbaz Sharif hands over ECC to finance minister Muhammad Aurangzeb

Prime Minister Shehbaz Sharif has decided to hand over the chairmanship of the Economic Coordination Committee (ECC) to Finance Minister Muhammad Aurangzeb.

The premier is reported to have reversed his decision taken earlier to head the ECC himself.

A notification issued on Saturday stated that the ECC will now be headed by the finance minister with ministers for economic affairs, planning, commerce, power and petroleum as members.

PM Shehbaz Sharif, however, will still retain the chairmanship of the Cabinet Committee on Energy, according to a report by Dawn.

The report added that the ECC had been handed over to Aurangzeb as it would be hard for Shehbaz Sharif to fit it into his ‘hectic schedule’.

The development comes a day after it was reported that the prime minister himself was to chair the ECC and the finance minister would only take his place in the wake of the premier’s absence.

PM Shehbaz Sharif on Saturday constituted six separate cabinet committees on economic coordination, energy, Chinese investment projects, privatisation, State-Owned Enterprises (SOEs) and disposal of legislative cases in terms of Rule 17(2) of Rules of Business 1973.

ECC’s reorganisation comes as the federal government is seeking a longer and larger size of fresh bailout package under the Extended Fund Facility (EFF) and is expected to engage in negotiations with the Washington-based lender next month.