The government has unveiled ‘Uraan Pakistan’, a five-year economic transformation plan, with ambitious goals to steer the country toward economic prosperity. Central to this vision are plans to grow the economy into a trillion-dollar powerhouse by 2035, achieve sustainable GDP growth of 6% by 2028, and boost annual exports to $60 billion.

Anchored on the 5Es—exports, e-Pakistan, environment and climate change, energy and infrastructure, and equity and empowerment—the plan outlines a comprehensive roadmap for implementation and reform. However, the true test lies in translating these ambitions into action while overcoming deeply rooted structural and governance challenges.

The plan seeks to elevate the economy to a trillion-dollar scale by 2035, boost annual exports to $60 billion by focusing on key sectors, and achieve a sustainable GDP growth rate of 6% by 2028, among other objectives. The plan lays out a comprehensive strategy to double GDP growth, attract substantial investments, and halve poverty within five years. Central to this vision is the anticipated $29 billion investment under the Special Investment Facilitation Council (SIFC), including $10 billion from the UAE, $5 billion from Saudi Arabia, $2 billion each from Qatar and Azerbaijan, and another $10 billion from Kuwait.

The plan outlines a detailed roadmap for implementation through 2029. Federal ministries and provincial authorities will set annual targets, translating overarching goals into actionable sectoral strategies. Monitoring will be conducted quarterly by the National Economic Transformation Unit (NETU), with progress reported to the prime minister. Targets include increasing GDP growth from 2.5% in FY 2023-24 to 6% by FY 2028-29 and raising per capita income from $1,680 to $2,405. Investment is projected to rise from 13.1% to 17% of GDP, while inflation is targeted to drop to a single-digit rate of 6.2%. Additionally, poverty is expected to decrease from 21.4% to 12% over the same period.

By 2035, the plan aims for GDP growth to reach 9.8%, positioning Pakistan as a trillion-dollar economy. However, the plan does not explicitly address exchange rate management, though sources suggest stability in rupee-dollar parity is assumed. The success of ‘Uraan Pakistan’ hinges on the government’s ability to tackle deep-rooted structural issues that have historically hindered economic progress. While the plan’s goals are comprehensive on paper, execution will depend on whether economic managers can implement necessary reforms and resist pressures from vested interests.

The plan is anchored around the 5Es: exports, e-Pakistan, environment and climate change, energy and infrastructure, and equity and empowerment. It emphasizes the export potential of sectors like IT, manufacturing, agriculture, minerals, and the blue economy. The e-Pakistan initiative envisions a robust freelance industry, a thriving startup ecosystem, advanced AI frameworks, and enhanced mobile connectivity, reflecting a forward-looking vision for technological and economic growth.

The plan also places significant emphasis on environmental and climate change resilience, aiming to reduce greenhouse gas emissions, enhance water storage capacity, increase cultivable land, and bolster disaster preparedness. In the energy sector, the government has set a target to increase the share of renewable energy to 10%, ensuring access to affordable and reliable energy.

Under the theme of equity and empowerment, the strategy highlights universal health coverage, improved literacy rates, women and youth empowerment, and the promotion of good governance and justice for all citizens.

Pakistan’s economic woes stem from a rent-seeking model that stifles productivity and inclusivity. While policymakers and international lenders alike have repeatedly highlighted the need for comprehensive economic restructuring, resistance from vested interests and a lack of political will have continued to obstruct progress.

The increasing impatience of international lenders underscores the urgency for Pakistan to move beyond rhetoric and implement the actionable roadmap outlined in the plan. For it to succeed, the government must create an enabling environment by assembling a competent and empowered economic team capable of driving reforms with authority and independence.

Equally vital is securing public support, as it ensures the legitimacy and sustainability of transformative policies. This necessitates addressing Pakistan’s governance and democratic deficits, which include curbing the influence of entrenched interest groups that have historically undermined reform efforts. Moreover, achieving a stable political and security environment is paramount. Political reconciliation and the resolution of ongoing tensions are essential to fostering the stability required for long-term reform and economic growth.

Ultimately, addressing these structural and systemic challenges is key to unlocking a path toward lasting economic stability and prosperity for Pakistan. The success of the plan will depend on the government’s ability to rise above entrenched challenges and translate ambition into action.

Undoubtedly, the plan presents an ambitious and comprehensive vision for economic transformation, but its success depends on overcoming long-standing obstacles. Establishing a competent and empowered economic team, securing public support, and addressing governance deficits are critical prerequisites. Equally vital are political reconciliation and the creation of a stable environment to enable reforms and long-term growth. With international lenders urging action and no shortage of policy prescriptions, the onus now falls on the government to rise above vested interests and execute meaningful change. Unlocking economic stability and prosperity for Pakistan demands a steadfast commitment to reform, accountability, and collective well-being.