ISLAMABAD- Prime Minister Mian Nawaz Sharif would chair the meeting of National Economic Council (NEC) today (Monday) to give approval to the record development budget for the provinces.

In the meantime, on the advice of Prime Minister Mian Nawaz Sharif, President Asif Ali Zardari has reconstituted the NEC under the chairmanship of the prime minister. The previous NEC stands dissolved automatically on the culmination of the mandated term of the previous government.

Under Article 156(1) of the constitution, the NEC would function under the head of the chief executive along with four members of the federal government, besides all the four chief ministers and one technical member from each province nominated by the chief minister of the respective province.

Prime Minister Mian Nawaz Sharif is yet to announce the names of the members representing the Federation. But obviously Federal Minister for Finance Senator Ishaq Dar would be one of these members.

IN NEC Punjab would be represented by Chief Minister Mian Shahbaz Sharif and one technical member of his choice which usually would be the minister holding the portfolio of finance.

Chief Minister Syed Qaim Ali Shah and his advisor on finance Murad Ali Shah would represent Sindh, Chief Minister Pervez Khattak and Senior Minister Sirajul Haq, who is holding the portfolio of finance, would represent the Khyber Pakhtunkhwa and Chief Minister Abdul Malik Baloch and MPA Abdul Rahim, who would be inducted as finance minister, would represent Balochistan in the meeting.

It is pertinent to mention here that previously NEC was reconstituted in 2009 when, besides the provincial members, then government led by Prime Minister Syed Yusuf Raza Gilani had inducted the then federal ministers Dr Arbab Alamgir Khan, Ch Ahmad Mukhtar, Dr Abdul Hafeez Shaikh and Mir Changez Khan Jamali as members representing the federation.

The federation in the NEC would be represented today (Monday) by Muhammad Ishaq Dar, Ahsan Iqbal, Ghulam Murtaza Khan Jatoi and Khwaja Mohammad Asif.

The meeting would deliberate over the approval of programme planned by the new government for budget 2013-14, while its approval would also be sought.

Meanwhile, the economic survey report for 2012-13 would be presented on Tuesday.

A post-budget press conference would also follow the budget, to be addressed by Finance Minister Ishaq Dar on 13th June.