| (1) | The President shall constituted a National Economic Council which shall consist of-
| (a) | the Prime Minister, who shall be the Chairman of the Council; |
| (b) | the Chief Ministers and one member from each Province to be nominated by the Chief Minister; and |
| (c) | four other members as the Prime Minister may nominate from time to time. |
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| (2) | The National Economic Council shall review the overall
condition of the country and shall, for advising the Federal
Government and the Provincial Governments, forumulate plans in respect
of financial, commercial, social and economic policies; and in
formulating such plans it shall, amongst other factors, ensure
balanced development and regional equity and shall also be guided by
the Principles of Policty set out in Chapter 2 of
Part-II. |
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| (3) | The meetings of the Council shall be summoned by the Chairman or on a requisition made by one-half of the members of the Council. |
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| (4) | The Coucil shall meet at least twice in a year and the quorum for a meeting of the Council shall be one-half of its total membership. |
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| (5) | The Council shall be responsible to the Majlis-e-Shoora (Parliament) and shall submit an Annual Report to each House of Majlis-e-Shoora (Parliament). |