Prime Minister Shehbaz Sharif has approved the New Uraan Pakistan National Economic Transformation Plan 2024-2029, which will be launched this Friday at a special ceremony.
The current government aims to guide Pakistan toward sustainable and high economic growth. The plan’s primary goal is to grow Pakistan’s economy from its current size of $374 billion to $1 trillion by 2035.
To achieve this, the plan sets ambitious targets including boosting annual economic growth to 9.8 percent, increasing literacy rates by 10 percent to reach 70 percent, and reducing poverty by 13 percent.
With the new plan, the premier dreams of $60 billion in exports by 2029 and increasing IT exports by $5 billion per year. If possible, there is a clause to set up 100 software technology parks to support this growth.
The New Uraan Pakistan plan also includes initiatives to address other national-level challenges. It seeks to reduce subsidies, eliminate circular debt, and prioritize the environment by cutting greenhouse gas emissions by 50 percent.
Also, the multi-billion-dollar ML-1 railway upgrade with Chinese financial assistance is part of the plan to increase railway freight transport by 25 percent and boost passenger train services by 15 percent.
The plan is built around a 5Es framework focusing on exports, energy, infrastructure, and people empowerment. It was developed after extensive consultations with both public and private sector stakeholders.
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