The National Economic Council has been formed with Dr. Mohammad Yunus, Chief Advisor to the interim government as the chairperson and all the other advisors of the government will be members of this council.

The main motive behind appointing Dr. Muhammad Yunus as the chairperson is his vast economic experience and international recognition. The Nobel Prize-winning economist is known globally for his ideas on microfinance and social business, which have contributed significantly to poverty alleviation. The purpose of NEC under the leadership of Dr. Mohammad Yunus was to implement advanced strategies and social business models in the economic planning of the country, which can be helpful in the long-term economic progress of the country. In this regard, the skills and experience of Dr. Muhammad Yunus can play a very important role in achieving international cooperation and attracting foreign investment for the country.

Last Monday, the notification to form the National Economic Council was issued from the Cabinet Department with Advisor Dr. Mohammad Yunus as the chairperson, it was informed in this regard last Tuesday.

It is known from the notification that among the officials who are supporting the National Economic Council are the Secretary of the Council of Ministers, the Chief Secretary, the Governor of Bangladesh Bank, the Secretary of the Planning Department, the members of the Planning Commission and the secretaries of the relevant ministries and departments.

The terms of reference of the Council are to provide direction in the adoption of policies and strategies relating to overall economic development activities; Finalizing and approving long-term and medium-term plans, annual development programs, revised annual development programs and action plans; Review the progress of implementation of long-term and medium-term plans, annual development programs, revised annual development programs; To take necessary decisions and provide direction for socio-economic development and to form any committee deemed helpful in carrying out the duties of the National Economic Council.

The notification said that the meeting of the cabinet will be held as required. The Planning Department will provide secretarial support to the Council.

The notification also informed that the notification issued by the Council of Ministers regarding the formation of the Economic Council on January 18 has been cancelled.