So far the cabinet-level body comprises six ministers who were recommended by the three regional House committees, with the seventh minister being appointed by the House's four women representatives.
President John Momis said there were still five ministerial portfolios left to be filled and is expected to announce the successful appointees later in this week, Bougainville media reported.
The current makeup of the council is Albert Punghau, Jacob Tooke, Nicholas Darku, Robin Wilson, Raymond Masono, Fidelis Semoso and Josephine Getsi.
Momis' agenda is to prepare Bougainville for a referendum on independence to be held before 2020, and part of this effort is to ensure it has a viable economy.
He has announced that a new ministry would be created to be "wholly and solely responsible for economic generation of revenue for economic development."
During his inauguration speech he said the Panguna copper mine would provide "rapid fiscal self-reliance and improved levels of services". It would also provide the government with the quickest source of revenue.
Niche agricultural crops and local industries were other avenues for developing Bougainville's economy. These included the production of coconut oil, cocoa processing, seaweed production, small scale mining and house brick making.
Momis added that once the vacancies of cabinet were filled, he aimed to clamp down on corruption and restructure the public service to ensure it worked efficiently.