Prime Minister Shehbaz Sharif has unveiled the ‘Uraan Pakistan’ initiative, a five-year federal program aimed at strengthening Pakistan’s economy. Speaking at the program’s launch, Sharif emphasized the need for economic stability and growth, focusing on reducing the cost of electricity and gas, boosting local industries, and promoting export-led development. He stressed that these efforts are essential to reduce the country’s reliance on foreign exchange and to strengthen Pakistan’s position in the global economy.
The government has set an ambitious target of attracting $10 billion in annual investments and aims to create a conducive environment for local investors. Sharif also highlighted the importance of privatization and outsourcing to reduce financial losses, stressing the need for political dialogue to move forward.
The Prime Minister acknowledged the economic challenges Pakistan faces but expressed confidence that the country is on the path to recovery. He also shared that Pakistan is nearing the end of its IMF program, which he described as the “last” such agreement for the country. According to Sharif, the government’s economic policies have already led to a significant reduction in inflation.
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The Uraan Pakistan initiative sets a long-term goal to transform the country into a trillion-dollar economy by 2035 and a three trillion-dollar economy by 2047. At its core is the 5Es strategy: Exports, E-Pakistan, Environment and Climate Change, Energy and Infrastructure, and Equity and Empowerment.
Finance Minister Muhammad Aurangzeb also spoke at the event, highlighting the country’s impressive economic improvements, including reduced inflation and interest rates, and Pakistan’s stock market performance. He stressed the importance of achieving a sustainable GDP growth rate of 6% by 2028, generating one million jobs annually, and attracting $10 billion in private investment each year.
Deputy Prime Minister Ishaq Dar noted that Pakistan’s vast natural resources, including minerals and hydrocarbons, could play a critical role in the country’s economic development. Planning Minister Ahsan Iqbal added that the Uraan Pakistan plan would provide a solid foundation for growth, benefiting citizens through better employment, healthcare, education, and business opportunities.
With a comprehensive implementation strategy in place, the government aims to hit export targets of $60 billion by 2028, and the private sector will play a key role in driving this transformation.
