1. Develop policies, strategies, and action plans to address the issue of the rising cost of living.
2. Identify comprehensive issues, problems, and challenges related to the current increase in the cost of living faced by the people.
3. Coordinate the implementation of policies and programs from various ministries and agencies to address the issue of the rising cost of living.
4. Monitor and ensure effective implementation of each cluster's efforts to address the issue of the rising cost of living.
5. Provide advice and guidance to the Executive Level Committee and Cluster Working Group Committees regarding policies, strategies, and action plans.
6. Examine and make decisions regarding the strategies and action plans presented by the Cluster Working Group Committees and the Executive Level Committee.
7. Present NACCOL decisions for consideration and approval at the Ministerial Council.
8. Monitor and ensure effective implementation of decisions made by NACCOL.

The structure of this Action Council is divided into four levels: Supreme Council, Executive Level Committee, Implementation Monitoring Committee, and Cluster Working Group Committee.

The Supreme Council is chaired by the Prime Minister and includes Ministers, the Chief Secretary to the Government, the Governor of the Central Bank, the Attorney General, academics, non-governmental organizations (NGOs), representatives of associations, and industry experts. The Supreme Council identifies current issues and challenges faced by the people regarding the increase in the cost of living and makes policy decisions to address them. The Council meets at least twice a year based on issues and needs.

The Executive Level Committee is chaired by the Deputy Prime Minister, and its members include Chief Secretaries, top government officials, representatives from academia, industry, NGOs, and associations with expertise in relevant fields. The Committee meets at least four times a year and is responsible for reviewing and considering the strategies and action plans proposed by the Cluster Working Group Committee. It also oversees and monitors the implementation of decisions made by the Supreme Council.

The Implementation Monitoring Committee is chaired by the Minister of Domestic Trade and Cost of Living. Its members include Chief Secretaries, top government officials, representatives from academia, industry, NGOs, and associations with expertise in relevant fields. The Committee meets at least once a month and serves as a platform to monitor the implementation of decisions made during NACCOL meetings.

The Cluster Working Group Committee is chaired by the Secretary-General of the Ministry. Committee members consist of a combination of public and private sector representatives based on their expertise, skills, and competence in addressing issues and challenges within the designated clusters. The Committee meets at least four times a year and is tasked with developing effective short-term, medium-term, and long-term strategies, including detailed action plans, to address identified issues and challenges. The seven clusters under NACCOL are Housing, Education, Transportation, Utilities, Health, Food, and Income.