Prime Minister Shehbaz Sharif has directed to prepare suggestions and recommendations on emergency basis to cope with the serious economic challenges confronting Pakistan.

According to Radio Pakistan these proposals will be formulated in consultation with all the stakeholders, including agriculture, industry, investment, banking, business and business communities, for which it has been decided to hold a summit in the next few days.

It has also been decided to reorganize the National Economic Council comprising impartial and leading economists.

Shehbaz made these instructions, while chairing an emergency meeting of economists in Islamabad on Tuesday after formally assuming office of the Prime Minister. He called for making comprehensive recommendations on policy options so that concrete steps can be taken.

The Prime Minister also directed to formulate comprehensive proposals for providing relief to the people and controlling inflation.

He also issued special instructions for monitoring the Ramadan Bazaar during the holy month and for immediate reduction in prices of essential commodities.