PETALING JAYA: The Prime Minister’s Office has announced the setting-up of the Economic Action Council, which will be chaired by Tun Dr Mahathir Mohamad. 

The 16-strong council will scrutinise and make decisions regarding economic and financial affairs, as well as the welfare of the people. 

According to a statement issued on Monday (Feb 11), it was formed to respond and act upon the rakyat’s feedback about the problems they face, particularly in the economic field. 

The council’s main aim is to spur and stimulate sustainable economic growth, equitable distribution of wealth, and further enhance the wellbeing of the people.

It will also look into issues related to the cost of living, employment, poverty and home ownership.

Apart from the Prime Minister, the other members are Economic Affairs Minister Datuk Seri Azmin Ali, Finance Minister Lim Guan Eng, International Trade and Industry Minister Darell Leiking, Works Minister Baru Bian, the Prime Minister’s economic advisor Dr Muhammed Abdul Khalid, former international trade and industry minister Tan Sri Rafidah Aziz, Permodalan Nasional Bhd (PNB) group chairman Tan Sri Dr Zeti Akhtar Aziz, Council of Eminent Persons (CEP) member and economist Professor Dr Jomo Kwame Sundaram, Public Bank Bhd chief executive officer and managing director of Tan Sri Tay Ah Lek, Majlis Amanah Rakyat chairman Dr Hasnita Hashim, Bursa Malaysia Bhd chairman Datuk Shireen Ann Zaharah Muhiudeen, Asean Business Advisory Council (Asean-Bac) Malaysia chairman Tan Sri Dr Mohd Munir Abdul Majid, Federation of Malaysian Consumers Associations (Fomca) chief executive officer Datuk Dr Paul Selvaraj, lawyer Bah Tony @ Amani William Hunt Abdullah and Masa Institute board of trustee member Nizam Mahshar.

These appointments are effective immediately.