• Pakistan launches ‘Uraan Pakistan’ economic plan
• Shehbaz Sharif prioritises stability over politics
• Economic reforms aim to end IMF reliance
ISLAMABAD (The Thursday Times) — Prime Minister Shehbaz Sharif announced the launch of the national economic plan, ‘Uraan Pakistan 2024-2029,’ a strategic roadmap to boost Pakistan’s economy amidst ongoing challenges. The plan was unveiled in a high-profile ceremony attended by key government figures, emphasising collaboration between federal and provincial institutions to drive economic growth and stability.
Unveiling ‘Uraan Pakistan’ economic plan
The ‘Uraan Pakistan’ plan seeks to revitalise Pakistan’s economy with a focus on sustainable development. The initiative includes comprehensive reforms targeting industrial growth, trade facilitation, and foreign investment. Shehbaz Sharif described the plan as a pivotal moment in Pakistan’s journey toward economic recovery, asserting that collaboration between the government and institutions is critical for progress.
The ceremony also saw the launch of the initiative’s official logo and publication, highlighting the government’s commitment to transparency and vision for economic prosperity. High-ranking officials, including Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb, endorsed the program as a step toward stabilising Pakistan’s economic foundation.
Stabilising the economy amid challenges
Prime Minister Shehbaz Sharif acknowledged the immense challenges faced over the past nine months, including inflationary pressures, limited foreign reserves, and a difficult IMF program. Despite these obstacles, he emphasised the government’s success in averting economic collapse through decisive measures. He expressed hope that the ongoing IMF agreement would be Pakistan’s last, urging a shift toward self-reliance.
The economic hurdles were attributed to decades of financial mismanagement, corruption, and inefficiency in state-owned enterprises, which incurred substantial losses. Sharif called for honest introspection and pledged a renewed commitment to improving governance and fiscal policies.
Prioritising state over politics
In his address, Shehbaz Sharif highlighted the government’s resolve to prioritise the state’s stability over political interests. During Pakistan’s precarious economic negotiations in 2023, he stated that the leadership made difficult decisions, choosing to stabilise the country over political gains. He stressed the importance of unity, urging political and institutional collaboration to ensure long-term stability.
Sharif also referenced past missed opportunities, criticising attitudes that alienated Pakistan from the international community. He called for humility and strategic partnerships to rebuild trust and strengthen Pakistan’s global standing.
Lessons from economic models
Highlighting India’s adaptation of economic reforms inspired by Nawaz Sharif’s tenure, Shehbaz Sharif urged Pakistan to learn from its neighbours. He praised the 2013-2018 period when Pakistan achieved 6% GDP growth, low inflation, and robust fiscal policies. The Prime Minister emphasised the need to adopt forward-thinking strategies rather than dwelling on past mistakes.
The ‘Uraan Pakistan’ plan is envisioned as a catalyst for change, aimed at reducing reliance on international loans while fostering domestic and foreign investment. The Prime Minister’s address underlined the urgency for collective action to restore Pakistan’s economic dignity and strengthen its position in global markets.