NEC to be made permanent institution through AoP

Measures would be taken to make the National Economic Council (NEC) a permanent institution through an Act of Parliament (AoP), enabling it to continue its operations without changing from government to government, NEC Secretary-General and Chief Economist Professor Lalith P. Samarakoon said.

During a media briefing held at the Presidential Secretariat’s media division, yesterday, Prof. Samarakoon said that the NEC is the last stop before the Cabinet and functions as a filtering body.

According to him, the decisions taken by the Cabinet of Ministers, and the proposals submitted to the Cabinet Committee, have to be referred to the NEC for advice and observations before seeking final Cabinet approval.

Prof. Samarakoon further said all ministers extended their fullest support for the NEC to continue its operations. Ministries including Industries and Commerce, Primary Industries; Science, Technology and Research; Power and Renewable Energy, State Enterprise development, Finance, Megapolis and Western Development have already submitted their proposals to the NEC, seeking its advice and observations prior to the implementation.

The NEC, a professional institution which was set up in September, 2016, with the approval of the Cabinet, is mandated to advice and guide the government on matters relating to the country’s economic policy and also coordinates such policy among state institutions.

The 10-member management body of the NEC is headed by President Mithripala Sirisena and consists of the prime minister, finance minister, secretary to the president, secretary to the prime minister, secretary to the Cabinet, Central Bank governor, Finance Ministry secretary and National Policy and Economic Affairs Ministry secretary. 

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