Pakistan Launches #URAANPakistan: Ambitious 5Es Blueprint to Reach $1 Trillion by 2035 and $3 Trillion by 2047

Prime Minister Shehbaz Sharif on Dec 31, 2024 officially unveiled and integrated the ambitious #URAANPakistan framework, positioning it as a comprehensive plan to propel the nation toward inclusive and sustainable economic growth. The launch ceremony drew Deputy Prime Minister Ishaq Dar, Chief Ministers, senior ministers, provincial governors, leading diplomats, business leaders, academia, and civil society representatives. Planning Minister Prof Ahsan Iqbal Chaudhary gave a keynote address on the occasion.

Transformative 5Es Blueprint

At the heart of the initiative lies the transformative 5Es framework—Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment, geared to reshape Pakistan’s economic future. Building on bold reforms enacted since 2022, the plan targets a USD 1 trillion economy by 2035 and USD 3 trillion by 2047, signaling a decisive move away from the “business as usual” approach.

Speaking at the ceremony, Professor Iqbal lauded Prime Minister Sharif’s “courageous decisions” in 2022, which were bolstered by the resilience of the Pakistani public. The Minister said that these measures stabilized the economy during a critical period, paving the way for the official launch of “Pakistan’s Uraan” (اڑان پاکستان).

“The actions taken in 2022 were a form of first aid to the economy,” Professor Iqbal remarked. “The people of Pakistan showed extraordinary patience under difficult circumstances, enabling us to embark on this renewed journey of growth.”

Identifying Core Challenges

Professor Iqbal highlighted poor export performance, cyclical economic downturns, and political instability as Pakistan’s most pressing hurdles. He identified the “twin deficit” (fiscal and current account) and the low tax-to-GDP ratio as critical impediments, alongside:

1. Population Explosion: Growth rates of 2.4–2.55% could lead to an additional 380 million people by 2047 if immediate measures are not taken.
2. Youth Bulge: A burgeoning young population urgently requires robust educational, vocational, and employment opportunities.
3. Climate Vulnerability: Frequent flooding and looming droughts threaten food and water security, demanding comprehensive environmental strategies.

“No country can rely on borrowing or unstable policies indefinitely,” Professor Iqbal cautioned, calling for reforms, continuity, and strategic investment in human capital.

Revisiting the Past for a Transformational Future

Professor Iqbal revisited Pakistan’s past growth spurts—first in the 1960s and again under former Prime Minister Nawaz Sharif in the early 1990s. He lamented that repeated political disruptions derailed these successes.

“Every time the economy began to take flight, we encountered instability or abrupt policy shifts,” he said. “Now, we are poised for another ‘اڑان’ (Uraan), and there can be zero allowance for a crash.”

Introducing the 5Es Framework

1. Exports
2. E-Pakistan
3. Environment
4. Energy & Infrastructure
5. Equity, Ethics & Empowerment

Two Possible Paths: Business as Usual or Transformational

Professor Iqbal outlined two trajectories for Pakistan:

• Business as Usual: The economy inches to USD 500 billion by 2030, burdened by population and deficits.
• Transformational Path: By leveraging the 5Es, GDP could reach USD 1 trillion by 2035 and USD 3 trillion by 2047, surmounting demographic and fiscal obstacles.

“Nations craft their destinies through choices,” he stated. “Now is the time to unite under a single vision and refuse any further interruptions in our progress.”

Synchronizing Efforts: SIFC, CPEC Phase II, and Private Sector Partnerships

Professor Iqbal pointed to two strategic investment platforms:

• Special Investment Facilitation Council (SIFC): Attracting friendly nations to invest in Pakistan.
• CPEC Phase II: Building on five core “corridors” (Growth, Livelihood, Innovation, Green, Opening-Up) aligned with the 5Es framework, integrating regional economies.

He also emphasized public-private partnerships, highlighting the government’s focus on security, regulation, justice, and social services, while the private sector drives value-added production, exports, and tax contributions.

Monitoring, Champions of Reform, and the Vision 2047 Centennial Lab

A National Economic Transformation Unit in the Ministry of Planning will issue quarterly performance reports, tracking Five-Year Plan progress for the Prime Minister’s Office and the public.

Additionally, Professor Iqbal introduced:

• Champions of Reform Program: An open invitation for skilled Pakistanis worldwide to join the nation’s development drive.
• Pakistan Centennial Lab: A think tank of leading private-sector, academic, and professional experts tasked with finalizing ‘Vision 2047’, marking 100 years of independence.

Quoting Allama Iqbal and Quaid-e-Azam Muhammad Ali Jinnah, Professor Iqbal urged all stakeholders to dedicate their energies to a progressive, ethical, and inclusive Pakistan.

“We owe it to the 240 million dreams of our fellow citizens to unite under Team Pakistan,” he said. “With unwavering resolve and a collaborative spirit, we will make Pakistan a beacon of hope for future generations.”