Prime Minister Shehbaz Sharif has given the green light to the New Uraan Pakistan National Economic Transformation Plan 2024-2029, an ambitious roadmap aimed at steering Pakistan toward sustainable and high economic growth. The plan will officially be launched this Friday at a special ceremony.
The government envisions transforming Pakistan’s economy from its current size of $374 billion to $1 trillion by 2035, with a focus on achieving long-term economic stability and prosperity. To meet this goal, the plan sets bold targets, including boosting annual economic growth to 9.8 percent, increasing the literacy rate by 10 percent to reach 70 percent, and reducing poverty by 13 percent.
The plan outlines a vision to expand Pakistan’s exports to $60 billion by 2029, with a special emphasis on the IT sector, aiming to increase IT exports by $5 billion annually. To support this growth, the government has proposed the establishment of 100 software technology parks across the country.
The New Uraan Pakistan Plan also tackles critical national challenges, including reducing subsidies, eliminating circular debt, and addressing environmental concerns. A key environmental goal is to cut greenhouse gas emissions by 50 percent, reflecting the government’s commitment to sustainability.
The plan incorporates major infrastructure projects, including the multi-billion-dollar ML-1 railway upgrade in collaboration with China. This project aims to increase railway freight transport by 25 percent and enhance passenger train services by 15 percent, significantly improving the country’s transportation network.
The plan is built around a 5Es framework, focusing on exports, energy, infrastructure, and people empowerment. It was developed after extensive consultations with stakeholders from both the public and private sectors.
The government’s vision for economic transformation is ambitious but reflects a strong commitment to addressing Pakistan’s pressing challenges and unlocking its potential for growth. The launch of the New Uraan Pakistan Plan marks a significant step toward achieving these goals.
