EAC approves social protection framework

PM chairs meeting of top advisory body on economics

ISLAMABAD: Prime Minister Imran Khan on Sunday approved a social protection framework for vulnerable segments of society, ensuring that they were protected against certain issues affecting them.

The decision was taken during a meeting of the Economic Advisory Council that was chaired by Prime Minister Imran Khan. Imran will visit North Waziristan district today (Monday).

The comprehensive social protection framework is aimed at overcoming the challenges of poverty, health, stunted growth, education and would enable the youth realise their potential and extricate themselves out of the generational poverty traps.



The prime minister also approved the policy recommendations for a medium-term structural reform framework of the economy, PM Office media wing in a press release said.

According to the communiqué, the final shape of the policies is the base of the 100-day plan of the government.

Minister for Finance Asad Umar, Minister for Planning Makhdoom Khusro Bakhtiar, Adviser to PM Dr Ishrat Hussain, Syed Saleem Raza, former governor State Bank, Dr Naveed Hamid, professor at Lahore School of Economics, Sakib Sherani, an economist, Dr. Faisal Bari, Associate Professor at LUMS, Dr Asad Zaman, VC Pakistan Institute of Development Economics, Dr Abid Qayyum Sulehri, ED Sustainable Development Policy Institute, Governor State Bank Tariq Bajwa, secretary finance Arif Ahmad Khan, advisor/executive Director General (IERU) Dr Khaqan Hassan Najeeb and other senior officials were present during the meeting.



The meeting was briefed on the policy recommendations for mobilising finance for development, enhancing exports and strengthening SMEs, tax reforms, job creation impact of major policy actions and social protection priorities in Pakistan, in the light of the deliberated proposals of the working groups of the Economic Advisory Council.

The policy recommendations were finalised to focus on acceleration of under utilised areas -- including agriculture, housing, small and medium enterprises in terms of incentives, reliance on export oriented and labour-intensive growth, reversal of anti-export bias, enhanced system automation and use of technology, transparency in trade regime, facilitating importers, job creation through skill development, ease of doing business through business friendly environment while focusing on productivity and moving on technology sophistication.

"Finalisation of these policies is for laying the foundation of a sustainable, inclusive, job creating and export oriented economic growth strategy as part of the Government's 100 Days Plan," it added.

 

With additional input from APP