World Bank Identifies Critical Issues in Uraan Pakistan

The World Bank has identified critical shortcomings in the Uraan Pakistan plan. The World Bank in its Country Partnership Framework report released this week highlighted the absence of detailed sectoral blueprints in the government’s 5E Framework. The report urged coordinated reforms at all levels of governance to address the country’s deep-seated economic challenges. Meanwhile, Minister for Planning and Development Ahsan Iqbal has rejected the World Bank’s observations and argued that the 5E Framework is aligned with provincial plans and has all the required sectoral targets. He described Uraan Pakistan as a byproduct of the 5E Framework and a home-grown strategy developed with input from UK economist Stefan Dercon. Still, the plan has faced scrutiny over errors and hasty execution. For example, a typo on the Prime Minister’s Office website projected Pakistan’s economy to grow to $1 billion by 2035, instead of the intended $1 trillion. The World Bank report also flagged Pakistan’s long-standing issues of unsustainable consumption-driven growth, low productivity, and poor human development indicators. It warned that without major reforms, Pakistan risks recurring economic crises and foreign exchange shortages. While the World Bank acknowledged recent stabilization efforts, it urged decisive and sustained reforms to break free from cycles of short-lived growth and economic crises. It warned that failure to address these issues could result in continued macroeconomic instability and limit the country’s prospects.