Five E's framework to prove game-changer for economic development: Marriyum

Five E's framework to prove game-changer for economic development: Marriyum

Islamabad (Web Desk/Agencies): Minister for Information and Broadcasting Marriyum Aurangzeb on Friday said that that the 5E’s framework formulated by the Ministry of Planning and Development & Initiatives (MoPD&SI) will prove a game-changer for economic development in Pakistan.

In a series of tweets, the minister said that ‘Exports’, ‘E-Pakistan’, Environment & Climate Change, Energy & Infrastructure, and Equity & Empowerment were the pillars of the turnaround of Pakistan.

"Through this framework, new businesses and employment opportunities will be encouraged to increase exports," she added.

The information minister stated that the promotion of education and health and population control will pave the way for the development of Pakistan.

"Affordable and uninterrupted energy supply will give a new boost to the economy and business," Marriyum Aurangzeb said adding that the environment will be improved through water reservoirs and food security.

"Through e-Pakistan, youth will be given development opportunities and they will be empowered," she said.

Marriyum said that the reduction of fiscal deficit to 4.6% of GDP from 4.9% was a major achievement which was a positive outcome of the correct economic policy of the government.

She said that a 76% reduction in the current account deficit was also a sign of sound economic policy.

"About 40.4% reduction in trade deficit showed the positive impact of economic measures," Marriyum said.

The minister remarked that the trade deficit has been reduced to $25.8 billion from $43.4 billion, which was a sign of improvement.

She said that imports decreased by 29.2%, which had a positive impact on the economic situation. Import bill has fallen to $51.2 billion against last year's $72.3 billion which was a step towards economic improvement, she added.

Compared to Rs 5,348.2 billion during the previous financial year, Rs 6,210 billion in tax revenue was collected during the current fiscal.

In the first 9 months of the current financial year, about 912,000 new taxpayers have been registered against the FBR target of 700,000 taxpayers which she said was a manifestation of an increase in the tax net.

"With the allocation of the federal development budget worth Rs1.15 trillion, the economic activities in the country will accelerate and employment opportunities will increase," the information minister said.