PM's indigenous advisory council to meet ECONOMIC development will be on the agenda when Prime Minister Tony Abbott meets with his panel charged with leading a shake-up of indigenous affairs. Mr Abbott and his 12-person indigenous advisory council will meet for the first time on Thursday afternoon in Canberra. Former ALP president Warren Mundine is chair of the council and says its members will be working out a game plan for the task ahead. Efforts to close the gap on Aboriginal disadvantage, social stability and empowering communities are top priorities for the talks. "We're going to be looking at that through economic and commercial eyes," Mr Mundine told AAP. He said council members will be given policy "homework" before meeting with Mr Abbott again in April. Council members include Westpac Bank chief executive Gail Kelly and Rio Tinto Australia managing director David Peever. The council will also be involved in mining magnate Andrew Forrest's review of indigenous employment and training programs as well as a separate review into Indigenous Land Corporation and Indigenous Business Australia. The federal government is subjecting the two embattled government-funded indigenous bodies to a review to determine if they should be merged. The Land Corporation has been under fire for going $200 million into debt to purchase Ayers Rock Resort for $317 million in 2010. The resort has hit financial woes, reporting losses of more than $100 million. Indigenous Business Australia was last year warned not to hold conferences that looked like "junkets" after senior staff travelled to Gold Coast theme parks.