PUTRAJAYA has formed an Economic Action Council which will study and decide on the country’s economic and financial affairs said the Prime Minister’s Office.

Prime Minister Dr Mahathir Mohamad will chair the council, which includes several cabinet ministers, former ministers, economists and representatives from industry and a consumer association.

A statement announcing the formation said the council will respond to and act on feedback from the public regarding the problems it faced, particularly in economic matters.

“The main aim of the council is to encourage and stimulate sustainable economic growth, ensure equitable distribution of wealth, and further enhance the wellbeing of the people,” the department said, adding it will also look into cost of living issues, energy usage, poverty and home ownership.

Though it has a slew of well-known public sector personalities sitting on the council, it is short on private sector participation or youths.

Other council members include Economic Affairs Minister Mohamed Azmin Ali, Finance Minister Lim Guan Eng, International Trade and Industry Minister Darell Leiking, Works Minister Baru Bian, economic adviser Muhammed Abdul Khalid, former trade minister Rafidah Aziz, Permodalan Nasional Bhd chairman Zeti Akhtar Aziz and former Council of Eminent Persons member Jomo Kwame Sundaram.

The council also includes Public Bank managing director Tay Ah Lek, Mara chairman Hasnita Hashim, Bursa Malaysia chairman Shireen Ann Zaharah Muhiudeen, Asean Business Advisory Council chairman Mohd Munir Abdul Majid, Federation of Malaysian Consumers’ Associations CEO Paul Selvaraj, lawyer Bah Tony and Institut MASA board of trustees member Nizam Mahshar.

The secretariat for the council is the Implementation Coordination Unit (ICU) in the Prime Minister’s Department. – February 11, 2019.