ISLAMABAD: The Ministry of Planning and Development and Special Initiatives is all set to launch 5Es Framework, a multi-pronged strategy aimed at putting Pakistan on a sustained growth trajectory following the successful Turnaround Pakistan Conference held in June 2022.

A day earlier, the National Economic Council (NEC) approved framework comprising a range of initiatives designed to drive economic development and address critical challenges faced by the nation. The 5Es framework is centred around five key pillars, which include exports, E-Pakistan, environment and climate change, energy and infrastructure and equity and empowerment.

The framework marks a significant milestone in Pakistan’s journey towards sustainable economic growth and development as it has set the stage for transformative change, addressing key challenges and capitalizing on opportunities for the betterment of the nation and its citizens.

Exports, Enterprise(s) & Employment: The First E aims at increasing exports. This E, in particular, focuses on initiatives that will tackle the chronic boom-and-bust cycles and stabilise the economy. Emphasis will be placed on promoting exports through industry, agriculture, IT, mining, and manpower sectors, fostering enterprise development, and generating employment opportunities.

The planning minister has a consistent view that said that our future depends upon how fast we become an export-led economy. “Our poor performance in exports is the principal reason for our current crisis and we need an export emergency,” he remarked.

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 digitisation ecosystem and expanding the IT sector are key objectives to foster socio-economic growth.

Copyright Business Recorder, 2023