Prime Minister Shehbaz Sharif has unveiled the New Uraan Pakistan National Economic Transformation Plan 2024-2029, a groundbreaking roadmap for sustainable and high economic growth. The initiative aims to expand Pakistan’s economy from its current size of $374 billion to an ambitious $1 trillion by 2035. This plan promises to redefine the country’s economic landscape with targeted efforts in multiple sectors.
Key Objectives of the New Uraan Pakistan Plan
Economic Growth: Propel Pakistan’s annual economic growth to 9.8%.
Literacy Boost: Increase the national literacy rate by 10%, reaching 70%.
Poverty Reduction: Cut poverty levels by 13%, uplifting millions of citizens.
Exports Expansion: Achieve $60 billion in exports by 2029.
IT Sector Growth: Enhance IT exports by $5 billion annually and establish 100 software technology parks.
Strategies for Achieving Ambitious Goals
1. Economic Transformation Framework (5Es)
The plan is built on the 5Es framework focusing on:
Exports: Diversify and boost export sectors.
Energy: Optimize energy production and distribution.
Environment: Prioritize sustainability by reducing greenhouse gas emissions by 50%.
Infrastructure: Modernize transportation and logistics.
Empowerment: Invest in human capital development.
2. Sustainable Development Initiatives
Reduction of subsidies to improve fiscal health.
Elimination of circular debt to stabilize the energy sector.
Environmental preservation as a core priority.
3. Infrastructure Upgrades
The plan includes the ML-1 railway upgrade, a multi-billion-dollar project funded by Chinese assistance. This project aims to:
Increase railway freight transport by 25%.
Enhance passenger train services by 15%.
Vision for a Prosperous Future
The New Uraan Pakistan Plan is a comprehensive effort to address the country’s economic challenges while laying the foundation for a prosperous future. With an emphasis on technology, sustainability, and human capital, the government’s vision includes:
Establishing software technology parks to foster innovation.
Strengthening exports across traditional and IT sectors.
Promoting green initiatives for a healthier environment.
The New Uraan Pakistan National Economic Transformation Plan 2024-2029 reflects a bold and visionary approach to building a sustainable and thriving economy. By leveraging innovative strategies, fostering public-private partnerships, and prioritizing environmental and social well-being, Pakistan is poised for a brighter future.
Stay updated as the government launches this transformative initiative at a special ceremony this Friday.
