The prime minister has approved the re-constitution of Economic Advisory Council (EAC) to recommend macro-economic stabilization measures and carry forward the reform agenda for a robust and sustained economic growth. The EAC will be chaired by the prime minister, while minister for finance and revenue will be the vice chairman. In the absence of the prime minister, the finance minister may chair the meeting. The EAC will include private sector members as well as official members. The council will have an advisory and capacity enhancement relationship with the government. It will engage with economic institutions collaboratively and synergetically. The EAC will follow the consultative process and suggest policy initiatives that will further strengthen and optimize financial and economic policies in order to enhance their welfare impact for the citizens. The ultimate goal of the EAC is to promote analytically sound and evidence based reforms and initiatives after taking all stakeholders on board. The ministry of finance will be the nodal government agency for the EAC. The re-constitution of council is aimed at framing an agenda for economic reforms in an entirely non-partisan manner and promoting an active and informed debate that leads to sound policy making, analytical vetting and active monitoring as envisaged by the leadership for sustained institutional reforms and modernization of the public sector and enhance public welfare.