President Dr Arif Alvi on Friday approved reconstitution of the National Economic Council (NEC)-a constitutional entity responsible for evaluating the country’s economic condition and devising strategies to promote equitable development and regional balance. The president approved the reconstitution of the 13-member body by exercising Article 156 of the Constitution. The Council would be led by Prime Minister with chief ministers of all the provinces and representatives of caretaker governments of the federal government and the provincial governments as its members. According to a statement issued by the President House press wing, caretaker minister for power, industry, commerce and investment S.M. Tanvir would be the member of the Council from Punjab province, minister for finance, revenue, planning and development Muhammad Yunus Dhagha would be member of NEC from Sindh province. Similarly minister for finance, excise, taxation and narcotics Ahmed Rasool Bangash would be member of the Council from Khyber Pakhtunkhwa and minister for finance and revenue Amjad Rasheed from Balochistan. Federal minister for planning, development and special initiatives, minister for communication, railway and maritime affairs, and federal minister for power and petroleum would also be part of the NEC.