Minister for Information and Broadcasting Marriyum Aurangzeb said on Friday 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, she said that ‘Exports’, ‘E-Pakistan’, Environment & Climate Change, Energy & Infrastructure, and Equity & Empowerment were the pillars of the turnaround of Pakistan.
Through this framework, she added, new businesses and employment opportunities will be encouraged to increase exports.
She 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, she said adding 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.
She opined that the reduction of fiscal deficit to 4.6 percent of GDP from 4.9 percent was a major achievement which was a positive outcome of the correct economic policy of the government. She said that a 76 percent reduction in the current account deficit was also a sign of sound economic policy. About 40.4 percent reduction in trade deficit showed the positive impact of economic measures.
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 percent, which had a positive impact on the economic situation. Import bill has fallen to 51.2 billion dollars against 72.3 billion dollars last year 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.