The government has unveiled a five-year economic transformation plan that aims to expand Pakistan’s economy to $1 trillion by 2035 while addressing structural challenges in multiple sectors.
However, social media restrictions, frequent internet outages, and firewall enforcement pose significant obstacles to achieving this ambitious goal.
The Express Tribune She stated that the “Five-Year National Economic Transformation Plan (2024-2029)” sets ambitious goals, including increasing the literacy rate to 70%, reducing poverty incidence by 13%, and promoting the knowledge-based technology economy.
The plan targets a compound annual growth rate of 9.8% over five years, with a focus on exports, technology-led growth, and environmental sustainability.
It envisions doubling exports to $60 billion by 2029, producing 75,000 IT graduates annually, and increasing broadband subscriptions to 135 million.
IT and exports at its core
The plan proposes to increase IT and self-employment exports by $5 billion, provided that restrictive policies such as the social media firewall that hinder digital innovation are addressed.
Ambitions include creating 100 software technology parks, producing a $1 billion unicorn, and achieving a 178% increase in IT exports.
Infrastructure and energy reform
In the energy sector, the government aims to increase the share of renewable energy to 10%, reduce subsidies, and eliminate circular debt. It also seeks to boost rail freight transport to 25% and passenger transport to 15%, through projects such as the $7 billion first main line under the China-Pakistan Economic Corridor.
Improvements in education and health care
The literacy rate is set to rise by 10%, while universal health coverage is expected to grow by 12%. It is targeted that completion rates for primary education reach 28%, with secondary education reaching 43%.
Climate and environmental goals
The plan commits to reducing expected greenhouse gas emissions by 50% and enhancing the ability to confront climate challenges, with the aim of achieving sustainable and comprehensive growth.
Planning Minister Ahsan Iqbal stressed the urgent need to move from a “security state” to a democratic, rules-based society, stressing that “without removing policy barriers such as restrictive IT practices, these ambitious goals will remain out of reach.”
The plan will be integrated into the thirteenth five-year plan, serving as a unified framework for federal ministries and governorates to align their efforts towards achieving economic stability and social progress in the long term.