The first meeting of the Economic Action Council (EAC), chaired by Prime Minister Dr Mahathir Mohamad, started at 6pm at Perdana Putra in Putrajaya today.
The meeting is to deliberate on three working papers, two of which are on efforts to address the rising cost of living, that will be tabled by the Economic Affairs and Domestic Trade and Consumer Affairs ministries.
The Economic Affairs Ministry will also be tabling a paper on the setting up of the B40 Facilitation Fund which will use social entrepreneurship as the platform to raise the living standard of B40 households.
B40 refers to the 40 percent of the population who are in the lower income bracket.
The setting up the EAC was announced by the Prime Minister’s Office on Feb 11 to zero in and make decisions on economic and financial matters as well as on welfare of the people.
Chaired by the Prime Minister, others in the 16-strong council are as follows: