(From left) Tun Daim Zainuddin, Tan Sri Zeti Akhtar Aziz, Dr Jomo Kwame Sundaram, Tan Sri Robert Kuok, and Tan Sri Hassan Merican.

PETALING JAYA: Tun Dr Mahathir Mohamad today announced the formation of a 'council of elders' tasked to advise the new Pakatan Harapan (PH) government on matters pertaining to economic and financial matters during the transition of power period.

Dr Mahathir who was sworn-in as Malaysia's seventh Prime Minister on Thursday said the council, also known as the "Team of Eminent Persons" will be headed by former Finance Minister Tun Daim Zainuddin.

Other members are former Bank Negara governor Tan Sri Zeti Akhtar Aziz, former president and CEO of Petronas Tan Sri Hassan Merican, billionaire Tan Sri Robert Kuok and prominent economist Dr Jomo Kwame Sundaram.

"The secretariat of this team will be led by economist Dr Muhammed Abdul Khalid. Head of Media and Communication team is National Journalism Laureate Datuk A Kadir Jasin," he said.

Prime Minister Tun Dr. Mahathir Mohamad addresses the media during a press conference in Menara Yayasan Selangor, Petaling Jaya. Pic by AIZUDDIN SAAD

"This council will help the government shape policies and programmes in order to fulfill PH's 100-day-promise to the rakyat.

"This council will only be around for 100 days," he said at a press conference after chairing PH's presidential council meeting at Parti Pribumi Bersatu Malaysia's (PPBM) headquarters here, today.

Commenting further on the role that is to be played by this council, the Prime Minister said they will also do research and the results will be handed over to the Cabinet.

Dr Mahathir added that the panel will look into and study various matters, including issues that took place between 2009 and now.

"This panel of 'old timers' and experts in matters of economy and finance is truly experienced. The government can make full use of their expertise in solving any issues that may crop up.

"After that, we can initiate immediate action like conducting investigations," he added.