Prime Minister Shehbaz Sharif has introduced an ambitious economic reforms package named “Uraan Pakistan.” The five-year National Economic Transformation Plan focuses on achieving sustainable growth. It emphasizes the 5Es: Exports, E-Pakistan, Environment, Energy, and Equity.
The launch ceremony in Islamabad was attended by Deputy Prime Minister Ishaq Dar, federal ministers, governors of Balochistan and KP, Punjab Chief Minister Maryam Nawaz Sharif, diplomats, and business leaders. PM Shehbaz began his speech by calling the day a “great moment.”
He praised the detailed presentations by the finance and planning ministers and the deputy prime minister. “In the last nine months, we faced immense challenges. With untiring efforts from federal and provincial governments, and support from international partners, we achieved macroeconomic stability,” he said. However, he warned this was only the start of a long journey requiring sacrifices to regain Pakistan’s global standing.
PM Shehbaz stressed the need for unity to succeed in this transformation. He congratulated federal cabinet members, provincial governments, and institutions like SIFC for their cooperation in crafting the “homegrown” programme. He highlighted the government’s efforts to secure an IMF deal amid political hurdles in 2023. This, he said, helped Pakistan avoid economic collapse.
The “Uraan Pakistan” programme targets investment and reforms in IT, agriculture, exports, and mining. PM Shehbaz pledged to raise annual investments to $10 billion over the next five years. He called for collective efforts from all sectors, including political parties and institutions, for the plan’s success.
The prime minister acknowledged that corruption, energy leakages, and state-owned enterprise losses drained the economy. Over the last decade, state-owned entities lost Rs6 trillion, while circular debts in energy sectors totaled around Rs3 trillion. He noted positive indicators like inflation dropping to 5%, exports increasing by 10%, and IT exports rising by 34%.
PM Shehbaz emphasized clean energy, especially solar power, as a priority. He said reforms in energy, infrastructure, and tax systems are underway. He also credited the Chief of Army Staff for unprecedented cooperation. “Export-led growth will be the foundation of Uraan Pakistan, crucial for saving the economy,” he added.
The finance minister highlighted Pakistan’s progress. He pointed to lower borrowing rates, increasing foreign investment, and a record-setting stock market. Inflation dropped from 38% to 5%, and the GDP growth target for 2028 is over 6%.
Minister Attaullah Tarar described “Uraan Pakistan” as an inclusive agenda for economic development. According to the programme’s website, it addresses challenges through the 5Es framework. These pillars aim to improve exports, promote digital transformation, combat climate change, boost clean energy, and ensure social equity.
The government’s transformative approach reflects a commitment to moving Pakistan from economic stability to strong growth. With teamwork, reforms, and targeted investments, the vision of “Uraan Pakistan” as a path to national prosperity is set to unfold.
