M. Zahid Rifat<\/p>\n
After successfully averting the looming threat of default, Pakistan is now in the process of stabilizing a somewhat staggering national economy, which is showing an appreciably upward trajectory. Official quarters are reporting regularly that all economic indicators are moving in the right direction, indicating positive improvements.
\nAmid this ongoing struggle to stabilize the national economy, Prime Minister Muhammad Shehbaz Sharif welcomed the New Year 2025 by unveiling a five-year transformation plan for the economy, \u201cUraan Pakistan.\u201d This plan targets export growth, digital transformation, and sustainable development for national progress.
\nThe targets set for the next five years, and long-term goals up to 2035, are quite ambitious. These include achieving a 6 percent Gross Domestic Product (GDP) growth and increasing its size to one trillion dollars within the next ten years. The plan aims to create as many as one million employment opportunities and attract $10 billion in annual investment by 2028.
\nThe objectives of \u201cUraan Pakistan\u201d also include addressing the impacts of climate change, placing greater attention on the energy and infrastructure sectors, and striving to create an equitable society.
\nSpecific targets to be achieved in the next five years under this transformation plan include raising the country\u2019s exports to $60 billion annually, expanding the Information Technology sector to a $5 billion industry by preparing 200,000 IT graduates each year, reducing greenhouse gas emissions by up to 50 percent, increasing cultivable land by more than 20 percent, enhancing water storage facilities to 10 million acre-feet (MAF), increasing the share of renewable energy in the energy sector to 10 percent, reducing the poverty rate by 13 percent, and launching massive development projects under Public-Private Partnerships by promoting community participation.
\nWhile launching the \u201cUraan Pakistan\u201d transformation plan, the Prime Minister emphasized that macroeconomic stability has been achieved, highlighting the dire need for \u201csacrifice, unity, and hard work\u201d to achieve sustained growth. He underscored that export-led growth is Pakistan\u2019s ultimate saviour and stressed the importance of fostering competition, reducing inefficiencies, and encouraging investment. He expressed hope for collaborative efforts between institutions and the government to sustain the country\u2019s economic recovery and called for investments in the digital and technology sectors, as well as highlighting the role of artificial intelligence (AI) in boosting productivity and competitiveness in a positive manner.
\nThe plan is set against the background of the International Monetary Fund (IMF) recently providing a bailout package. Official quarters at the highest levels have emphatically stated that if all goes well as planned, this will be the last time Pakistan seeks IMF assistance.
\nWith ambitious goals and a commitment to sustainable growth, the Uraan Pakistan initiative aims to transform Pakistan\u2019s economy and position it as a regional economic powerhouse over the next five years, hoping that everything will go as planned and expected.
\nAs briefly stated above, the targets of Uraan Pakistan are quite ambitious, and the prerequisites for its success over the next five years include national unity, political stability, the complete maintenance of law and order, and the commitment of all to achieve something that, under the prevailing circumstances, seems rather difficult.
\nTo realize these ambitious targets, everyone must work-whether in the public or private sector-dedicatedly, determinedly, and sincerely to develop Pakistan as an economically strong country. Regrettably, it must be noted that ours is a nation with a tendency to shirk work, making it challenging, if not impossible, to motivate all citizens to contribute.
\nHowever, the federal government should make concerted efforts to secure the help and assistance of legislators at both federal and provincial levels to reach out to their voters and the public at large. They should explain the salient features of Uraan Pakistan and inform citizens about what they can do for its success.
\nThe federal government should not sit idle after launching the plan; it needs to create easily understood booklets in all languages spoken throughout the country. These should inform the citizens about what is expected of them for the success of their motherland.
\nThe federal budget documents for 2024-25 mention the 13th Five-Year Plan, and since Uraan Pakistan is also a five-year initiative, officials must clarify this to avoid confusion regarding the timelines.<\/p>\n
The writer is a Lahore-based freelance journalist, columnist and retired Deputy Controller (News), Radio Pakistan, Islamabad and can be reached at zahidriffat@gmal.com<\/p>\n","protected":false},"excerpt":{"rendered":"
M. Zahid Rifat After successfully averting the looming threat of default, Pakistan is now in the process of stabilizing a somewhat staggering national economy, which is showing an appreciably upward trajectory. Official quarters are reporting regularly that all economic indicators are moving in the right direction, indicating positive improvements. Amid this ongoing struggle to stabilize […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[6607],"class_list":{"0":"post-456877","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-article","7":"tag-m-zahid-rifat"},"yoast_head":"\n