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Islamabad, June 08, 2023 (PPI-OT): National Economic Council (NEC) approved Ministry of Planning and Development’s 5Es Framework, a multi-pronged strategy aimed at Turning Around Pakistan to put it on a sustained growth trajectory. The minister for Planning Ahsan Iqbal while talking to the media said that following the successful Turnaround Pakistan Conference held in June 2022 and subsequent consultations with public and private stakeholders, this framework comprises a range of initiatives designed to drive economic development and address critical challenges faced by the nation. Shedding light on each of the Es, the minister stated that the 5Es Framework is centred around five key pillars:
The first E aims at increasing EXPORTS the minister said that our future depends upon how fast we become export led economy. Our poor performance in exports is the principle reason for our current crisis. We need an export emergency. This E in particular focuses on initiatives that will tackle the chronic boom-and-bust cycles and stabilize the economy. Emphasis will be placed on promoting exports through industry, agriculture, IT, mining and manpower sectors fostering enterprise development, and generating employment opportunities.
He said that the second E is about E-PAKISTAN which will ultimately help Pakistan “Building a Knowledge Economy” with a mission to harness the immense potential of IT and Telecom exports, this pillar aims to lay the foundation for a robust knowledge-based economy in Pakistan. Accelerating the digitization ecosystem and expanding the IT sector are key objectives to foster socio-economic growth. He said that the third E is about ENVIRONMENT and CLIMATE CHANGE and primarily focused on Water and Food Security. He stated that acknowledging Pakistan’s vulnerability to climate change, this E prioritizes institutional, legal, and policy objectives for mitigating its impact. Addressing water and food security challenges is a key focus area, ensuring the sustainability and resilience of the nation.
The minister explained the forth E relates to ENERGY and INFRASTRUCTURE and said that the government wants secure, sustainable and affordable energy for all including the industry and other development sectors. He said that the Government of Pakistan was committed to diversifying the energy mix by investing in renewable energy sources such as wind, solar, and hydro power. The minister further maintained that this E also emphasizes energy efficiency and conservation measures to reduce consumption, cut costs, and promote environmental sustainability.
Talking about the 5th E which was about EQUITY and EMPOWERMENT, the minister said that its primary focus was to “Leave No One Behind”. He said that fostering inclusive economic growth was the essence of this E. He said that the fifth E related to Equity and Empowerment recommends a strategic blend of universal policies, affirmative actions, and targeted interventions to ensure accessible and high-quality health, education, and social protection services for all citizens. He said that the special emphasis through this E was to empower youth, women, persons with disabilities, and the least-developed regions of the country.
Ahsan Iqbal said that the Ministry of Planning and Development, in close collaboration with Federal Ministries, Provincial Governments, and other relevant stakeholders, will work to implement the 5Es Framework. He expressed that policies will be formulated, projects developed, and initiatives launched in line with this comprehensive strategy. He further emphasized that the Ministry will also undertake periodic monitoring to ensure effective implementation and progress tracking. The minister stressed that the launch of 5Es marks a significant milestone in Pakistan’s journey towards sustainable economic growth and development. The 5Es Framework sets the stage for transformative change, addressing key challenges and capitalizing on opportunities for the betterment of the nation and its citizens.
For more information, contact:
Ministry of Planning, Development and Special Initiatives
“P” Block, Pakistan Secretariat, Islamabad, Pakistan
Tel: +92-51-9209442
Fax: +92-51-9201777
Email: webmanager@pc.gov.pk
Website: https://www.pc.gov.pk/