Prime Minister Shehbaz Sharif on Tuesday unveiled the “Uraan Pakistan: Homegrown National Economic Plan 2024-29,” aiming to tackle Pakistan’s economic challenges through a targeted framework called the “Five Es”: Exports, E-Pakistan, Equity and Empowerment, Environment and Food Security, and Energy and Infrastructure.
Addressing the launch ceremony in Islamabad, PM Shehbaz emphasized that macroeconomic stability had been achieved but highlighted the need for “sacrifice, unity, and hard work” to achieve sustained growth.
He underlined export-led growth as Pakistan’s “ultimate savior,” stressing the importance of fostering competition, reducing inefficiencies, and encouraging investment.
The plan sets ambitious targets, including achieving 6% GDP growth, creating one million jobs annually, and attracting $10 billion in annual private investment by 2028.
It also aims to increase exports to $60 billion and address key structural challenges in energy, food security, and digital transformation.
Finance Minister Muhammad Aurangzeb highlighted recent economic progress, including a fiscal surplus after 24 years, inflation reduction from 38% to 5%, and improved investor confidence.
He emphasized the plan’s implementation mechanism, which includes establishing a separate tax policy unit and promoting sustainable growth through private-sector engagement.
Deputy Prime Minister Ishaq Dar called for burying “petty politics” to achieve economic progress. He underscored the importance of national ownership of the economic roadmap and expressed optimism about Pakistan joining the G-20 club of nations.
The event also saw Planning Minister Ahsan Iqbal and Information Minister Attaullah Tarar underline the need for political harmony and reforms to ensure equitable growth.
The plan is set against the backdrop of Pakistan’s recent IMF bailout and seeks to ensure this is the “last such agreement.” The government also pledged to address inefficiencies in state-owned enterprises and implement privatization strategies to reduce losses.
PM Shehbaz expressed hope that the collaborative efforts between institutions and the government would sustain the country’s economic recovery. He called for investments in digital and technology sectors, emphasizing artificial intelligence’s role in boosting productivity and competitiveness.
With ambitious goals and a commitment to sustainable growth, the Uraan Pakistan initiative aims to transform Pakistan’s economy and position it as a regional economic powerhouse over the next five years.
