ISLAMABAD: The recently appointed head of the Economic Advisory Council, ex-Finance Minister Shaukat Tarin on Friday said the country was facing several challenges on the economic front.

He said the EAC was contemplating calling the reconvened council’s first session within the next week to provide policy advice to the government, reported The News.

The major economic challenges facing Pakistan include loss-making public-sector enterprises (PSEs), widening current account deficit, shortage of housing units for millions and resource mobilization.

Mr. Tarin said after successful conclusion of EAC’s first meeting, it will meet the Prime Minister and offer recommendations on how to overcome these economic challenges.

The ex-Finance minister said the current government didn’t have enough time at its disposal for carrying out reforms but EAC would offer recommendations to the authorities for bringing necessary reforms in key sectors of the economy.

He added the government was busy preparing the budget for next financial year 2018-19 ahead of normal time as its tenure is on the verge of ending.

Mr. Tarin said tax collection and resource mobilization were the foremost challenges that were confronting the country’s economy currently.

Also, the ex-Finance minister highlighted widening current account deficit was another challenge which needed a detailed strategy to deal with it.

Furthermore, Mr. Tarin highlighted loss incurring PSE’s and dearth of housing units were amongst the foremost challenges being faced by Pakistan’s economy. He said necessary steps need to be taken to boost construction sector in the forthcoming budget.