Islamabad, December 31, 2024 – Prime Minister Shehbaz Sharif officially launched Uraan Pakistan, a homegrown five-year National Economic Transformation plan, on Tuesday in Islamabad.
This ambitious initiative is designed to guide the nation toward sustainable economic growth, building on the foundation of macroeconomic stability. During the launch event, Prime Minister Shehbaz emphasized that the plan’s core objective is to transition Pakistan from its current economic challenges to long-term growth and stability.
In his address, Shehbaz Sharif underscored the importance of reducing the cost of essential inputs, such as electricity and gas, to create an environment conducive to sustainable development. He noted that the competitiveness of the local industry must be enhanced to conserve foreign exchange and boost exports, highlighting that export-led growth is the only viable path for strengthening Pakistan’s economy.
Prime Minister Shehbaz also announced that the government aims to attract $10 billion in private investment annually, with efforts underway to create an enabling environment that encourages local investors.
Shehbaz Sharif further stressed that privatization and outsourcing of inefficient state-owned enterprises are crucial for minimizing financial losses. He called for a political dialogue to build consensus and ensure the successful implementation of these necessary reforms. The Prime Minister’s vision for economic transformation is centered on fostering a more efficient and competitive market environment, which will allow Pakistan to thrive in the global economic landscape.
Finance Minister Muhammad Aurangzeb also spoke at the event, outlining the goals of the Uraan Pakistan plan. He stated that the plan aims for a sustainable GDP growth rate of 6% by 2028, the creation of one million jobs annually, and a consistent inflow of $10 billion in private investment each year. Aurangzeb highlighted that the plan includes a robust implementation mechanism, which will help Pakistan achieve its target of $60 billion in exports by the end of fiscal year 2028. To ensure effective execution, a dedicated delivery unit has been established at the Prime Minister’s office to coordinate the implementation of sectoral plans and roadmaps.
Uraan Pakistan is built on five strategic pillars, known as the 5Es: Exports, E-Pakistan, Environment (including food and water security), Energy and Infrastructure, and Equity, Ethics, and Empowerment. These pillars collectively outline the government’s priorities for the next five years, focusing on economic transformation, environmental sustainability, and social equity. This comprehensive plan represents a bold step toward a prosperous and resilient Pakistan.