PM Shehbaz Sharif unveiled ‘Uraan Pakistan’, a five-year plan for national economic transformation.
During the launch event, he stated that the goal of this plan is to guide the nation towards sustained growth based on macroeconomic stability. The plan is based upon valuable input from all stakeholders, including the public and private sectors.
The National Economic Transformation Plan (NETP)-‘Uraan Pakistan’ is based on the 5Es Framework of (i) Export; (ii) E-Pakistan; (iii) Environment and Climate Change; (iv) Energy and Infrastructure; and (v) Equity, Ethics, and Empowerment. Through the use of the 5Es framework, the program seeks to address these issues and offer immediate to intermediate-term remedies for Pakistan’s economic growth and stabilization.
He remarked that local industries should be made more adaptable to increase exports and preserve foreign currency. He says the only way to strengthen Pakistan’s economy is through export-led development.
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Shehbaz Sharif stated that the administration has established an annual investment goal of $10 billion and is working to create an atmosphere that would encourage local investment.
He asserted that outsourcing and privatization are essential for preventing significant losses, for which political discussion is required, state-run Radio Pakistan reported.
Earlier during the ceremony, Finance Minister Muhammad Aurangzeb gave a full explanation of the Uraan Pakistan initiative’s goals. He asserted that within three years, the plan would bring Pakistan’s economy up to par with the rest of the world.
He highlighted recent accomplishments, saying, “Pakistan improved the policy rate from 22% to 13%, decreased inflation from 38% to 5%, and recorded a fiscal surplus for the first time in 24 years.” International and domestic investor confidence has increased, and the stock market is currently the second-best performing in the world.
“This is a turning point for the nation’s economic stability,” Aurangzeb said, highlighting the program’s role in creating the foundation for sustainable economic growth. He said that Prime Minister Shehbaz Sharif established a delivery unit at the Prime Minister’s Office to coordinate the implementation of sectoral plans and roadmaps.
