PM Shehbaz Unveils URAAN Pakistan Initiative for Economic Revival

Prime Minister Shehbaz Sharif launched the URAAN Pakistan Program today, marking it as a pivotal step toward economic recovery and national progress. The initiative aligns with the 5Es National Economic Transformation Plan, focusing on revitalizing the economy, fostering sustainable growth, and advancing critical reforms.

In his address, the Prime Minister reflected on the economic challenges faced by Pakistan, including the struggle to secure an IMF deal in 2023 to avert default. Highlighting the coalition government’s resolve to prioritize national interests over political concerns, he credited the economic stability achieved to collective efforts and public resilience.

PM Shehbaz acknowledged historical issues of corruption and mismanagement that have hindered Pakistan’s development, emphasizing the need to confront these challenges and focus on progress. He commended the nation’s patience during periods of inflation, noting a decline to below 5%, an 11% rise in exports, a 24% increase in remittances, and a 34% surge in IT sector exports over the past five months.

Key reforms under URAAN Pakistan include measures to boost exports, lower energy costs, expand the tax base, and encourage renewable energy adoption. The government is also prioritizing solar energy projects and privatization to reduce state enterprise losses and attract foreign investment, aiming for $10 billion annually.

The Prime Minister stressed the importance of affordable energy for industrial growth and criticized past policies that led to energy sector inefficiencies. Renewable energy, especially solar and hydropower, remains a cornerstone of the government’s energy strategy.

Concluding his address, PM Shehbaz called for national unity and collective effort to secure political and economic stability, underscoring his administration’s commitment to building a prosperous Pakistan.