ISLAMABAD, Jun 6 (APP): The National Economic Council (NEC) on Tuesday approved the Planning Ministry’s 5Es framework, a multi-pronged strategy to turnaround Pakistan and put it on a sustained growth trajectory.
“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,” Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal said while talking to media.
Shedding light on each component of the strategy, he said the 5Es Framework was centered around five key pillars.
The first E, he said, was aimed at increasing exports as the country’s future heavily depended upon how fast it 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.”
Under it, he said, the emphasis would be on promoting exports through industry, agriculture, information technology, the mining & manpower sectors fostering enterprise development, and generating employment opportunities.
Ahsan Iqbal said the second E was about E-Pakistan which would 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.”
The minister said that the third E was about Environment & Climate Change with primarily focused on water & 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.”
Explaining the forth E that related to Energy & Infrastructure, he said the government wanted secure, sustainable and affordable energy for all including the industry and other development sectors.
He said the government 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 emphasized energy efficiency and conservation measures to reduce consumption, cut costs, and promote environmental sustainability.
Talking about the 5th E which was about Equity & Empowerment, Ahsan Iqbal said its primary focus was to “Leave No One Behind”.
He said fostering inclusive economic growth was the essence of this E. “The fifth E related to Equity and Empowerment recommends a strategic blend of universal policies, affirmative action and targeted interventions to ensure accessible and high-quality health, education, and social protection services for all citizens.”
The minister said the special emphasis through this E was to empower youth, women, persons with disabilities, and the least-developed regions of the country.
He said the Ministry of Planning and Development, in close collaboration with Federal Ministries, Provincial Governments, and other relevant stakeholders, would work to implement the 5Es Framework.
He said policies, development projects and initiatives would be in line with this comprehensive strategy.
He emphasized that the Ministry would also undertake periodic monitoring to ensure effective implementation and progress tracking.
“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,” the minister remarked.
