Finance Minister Ishaq Dar presented the economic survey for the fiscal year 2023 at a press conference in Islamabad, which notably showed that the country’s industrial sector contracted by around three per cent.

Before presenting his government’s economic performance for the year, the minister went on a diatribe explaining the difficult condition in which the Pakistan Democratic Movement (PDM) had inherited the economy.

He claimed that he had left Pakistan in a strong economic position in 2017, when he last served as the finance minister under PML-N supremo Nawaz Sharif, saying that his topmost priority at this stage was ensuring macroeconomic stability.

Dar said he had previously championed a 3Es framework, adding that it was now being expanded to a 5Es framework focusing on exports, equity, empowerment, environment and energy.

Economist Dr. Aqdas Afzal explains what does the Pakistan Economic Survey 2023 means for the country's economy and how will it impact the fiscal year ahead.



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