Pakistan targets $100bn exports under Uraan plan

January 21, 2025 (MLN): The transition to export-led growth was emphasized as crucial for ensuring long-term economic sustainability, with a call for boosting exports to $100 billion from the current $40bn.

This goal was outlined during a recent meeting on the Uraan Pakistan Action Plan, chaired by the Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal.

He recognized the recent growth in IT exports as a positive development, sharing the government's vision to increase IT exports from $3bn to $10bn by 2029.

Ahsan Iqbal instructed each ministry to align its objectives with the Uraan Pakistan initiative and appoint a senior focal person to ensure consistent coordination and progress.

Furthermore, ministries were tasked with identifying three key factors essential for stabilizing the economy, according to the press release.

Ahsan Iqbal highlighted the importance of engaging stakeholders through well-crafted strategies and proposed workshops to enhance collaboration with provincial governments.

He pointed out that two-thirds of the country’s exports consist of low-value-added textile products, highlighting the need for a significant overhaul of the export ecosystem.

He emphasized the critical need to equip the youth with the necessary training, skills, and opportunities to leverage the country's demographic dividend.

He also addressed the urgent issue of out-of-school children, stressing that the 2.5 million children currently outside the education system must be reintegrated into schools.

This, he emphasized, is key to unlocking the potential of Pakistan’s youth and driving sustainable economic growth.

Reflecting on past economic challenges, the Minister noted that poor governance had caused a significant decline in the Public Sector Development Program (PSDP), dropping from Rs1,100bn in 2018 to Rs400bn in 2022.

However, he assured that the government has successfully revitalized the PSDP, steering the economy back toward stability.

The Prime Minister’s "5 E's" agenda focused on Education, Health, Modern Technology, Green Energy, and Ethics was reaffirmed as the cornerstone for achieving development goals.

The meeting was attended by secretaries of all ministries, chiefs, project directors, and federal and provincial officials.

Ahsan Iqbal concluded by reiterating the government’s firm commitment to leveraging all available resources to achieve the objectives of Uraan Pakistan and ensuring the continuity of policies at both the federal and provincial levels.

Copyright Mettis Link News