Prime Minister Shehbaz Sharif on Tuesday unveiled “Uran Pakistan: Domestic National Economic Plan 2024-2029”, which aims to address the economic challenges faced by Pakistan through a targeted framework called “The Five”: Exports, e-Pakistan, Equality and Empowerment, Environment and Equality. . Food security, energy and infrastructure.
Speaking at the launch ceremony in Islamabad, Prime Minister Shehbaz emphasized that macroeconomic stability had been achieved, but highlighted the need for “sacrifice, unity and hard work” to achieve sustainable growth.
He emphasized export-led growth as the “ultimate savior” for Pakistan, stressing the importance of enhancing competition, reducing inefficiencies, and encouraging investment.
The plan sets ambitious goals, 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 the areas of energy, food security and digital transformation.
Finance Minister Muhammad Aurangzeb highlighted recent economic progress, including a fiscal surplus after 24 years, a decline in inflation from 38% to 5%, and improved investor confidence.
He stressed the plan’s implementation mechanism, which includes establishing a separate unit for tax policy and promoting sustainable growth through private sector participation.
Deputy Prime Minister Ishaq Dar called for burying “petty politics” to achieve economic progress. He stressed the importance of national ownership of the economic roadmap and expressed optimism about Pakistan joining the club of G20 countries.
The event also saw Planning Minister Ahsan Iqbal and Information Minister Ataullah Tarar stressing the need for political harmony and reforms to ensure equitable growth.
The plan has been drawn up against the backdrop of the recent IMF bailout for Pakistan, and seeks to ensure that this is the “last agreement of its kind”. The government also pledged to address shortcomings in state-owned enterprises and implement privatization strategies to limit losses.
Prime Minister Shehbaz expressed hope that collaborative efforts between institutions and the government would sustain the economic recovery in the country. He called for investment in the digital and technological sectors, stressing the role of artificial intelligence in enhancing productivity and competitiveness.
Through ambitious goals and a commitment to sustainable growth, the Oran Pakistan Initiative aims to transform Pakistan’s economy and position it as a regional economic power over the next five years.