A vision for progress and prosperity

As we complete the first year of the Pakistan Muslim League-Nawaz (PML-N) government, it is an opportune moment to reflect on our achievements and reaffirm our commitment to a prosperous future.

Under the dynamic leadership of Prime Minister Mian Muhammad Shehbaz Sharif, Pakistan is undergoing a historic economic transformation. 

Despite challenges, we have laid the foundation for long-term stability and growth, proving that with a clear vision, political will, and policy continuity, Pakistan can rise to new heights.

The government of Pakistan has launched Uraan Pakistan, a comprehensive National Economic Transformation Plan that envisions a resilient, self-sustaining, and prosperous Pakistan. This initiative, rooted in the 5Es Framework — Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment — aims to position Pakistan as a competitive player in the global economy while ensuring inclusive growth and development for all citizens.

For decades, Pakistan’s economy has faced policy discontinuity, structural inefficiencies, and external shocks. However, in just one year, our government has taken decisive action to break free from cycles of stagnation and put the country on a path of sustainable economic growth. 

Unlike previous administrations that relied on short-term fixes, our approach is based on long-term strategic reforms and a commitment to policy continuity.

Uraan Pakistan is a transformative roadmap that lays the foundation for economic expansion and social progress. Our target is to achieve a $1 trillion economy by 2035 and a $3 trillion economy by 2047. 

To meet these goals, we are fostering an export-driven economy, creating millions of jobs annually, strengthening our technological capabilities, and ensuring economic inclusivity. This vision is not merely aspirational; it is also backed by tangible actions, sound economic policies, and an unwavering commitment to national development.

The government has prioritised economic revival by stimulating private investment, enhancing fiscal discipline, and focusing on productivity, quality, and innovation. We are actively working to remove barriers to growth, create an investor-friendly environment, and implement reforms that ensure transparency, efficiency, and accountability in governance.

To demonstrate our unwavering commitment to progress, the government has allocated an unprecedented Rs1,500 billion for the Public Sector Development Programme (PSDP) 2024-25, marking a 101% increase from the previous year. This substantial allocation underscores our focus on infrastructure expansion, social sector investments, and regional equity.

Infrastructure development receives the largest share, with investments channelled into energy, transportation, water resources, and urban planning to ensure seamless connectivity and economic efficiency. Social development remains a priority, with major allocations directed toward education, health, and population welfare.

A significant portion has been dedicated to balanced regional growth, ensuring equitable development in Azad Jammu & Kashmir, Gilgit-Baltistan and Khyber Pakhtunkhwa’s merged districts. The government has also made an aggressive push toward digital transformation, significantly increasing investments in the IT and telecom sectors to foster innovation and technological advancement.

The government is actively working towards making Pakistan an export-driven economy. Annual exports have witnessed significant growth, and our ambitious target of reaching $60 billion in exports by 2029 is within reach. Tariff rationalisation and policy reforms have been introduced to enhance Pakistan’s global trade footprint, making ‘Made in Pakistan’ a symbol of quality and reliability.

The current account balance has significantly improved, shifting from a deficit of $-1.3 billion in 2023-24 to a surplus of $1.2 billion in 2024-25, reflecting a 192.3% improvement. Average inflation as measured by the Consumer Price Index (CPI) during FY2024-25 saw a significant decline which remained at 6.5% compared to 28.7% during the corresponding period of the last year. Following the continuously declining trend, this substantially decreased to 2.4% in January 2025 as compared to 28.3% in January 2024. 

This was possible due to the government’s strict monitoring of prices, uninterrupted supply of essential items and corrective measures to control undue price hikes.

Meanwhile, the Pakistan Stock Exchange (PSX) performed remarkably to scale new heights during the last year, setting a new benchmark KSE-100 Index climbing from 62,393.74 points in February to cross the 100,000 points mark in November 2024. 

The index further closed at 114,255.73 points in January 2025. This performance reflects high investor confidence driven by factors like political stability, optimistic economic indicators, reduction in policy rate and stabilisation under the IMF programme.

Pakistan’s IT and digital economy have seen remarkable progress. The ICT sector contributes significantly to national revenue, with freelancing and e-commerce expanding at an unprecedented rate. The country now produces over 200,000 IT graduates annually, strengthening our digital workforce. Broadband penetration has expanded, connecting over 100 million Pakistanis to digital services. 

The government has also introduced Pakistan’s first-ever Artificial Intelligence framework, preparing the nation for the next technological revolution.

The government has prioritised energy security as a fundamental pillar of economic stability. Renewable energy sources have expanded, with clean energy now accounting for 10% of the national energy mix and growing. 

Circular debt has been reduced through structural reforms, ensuring an uninterrupted power supply to industries and businesses. Investments in railway and freight infrastructure have led to an increase in railway freight capacity from 8.0% to 25%, significantly improving transport efficiency.

Major infrastructure projects, including Mohmand Dam, Diamer-Basha Dam, Karachi Coastal Power Project, and Thar Coal Rail Connectivity, are under construction, addressing Pakistan’s growing energy and water needs. The development of the New Gwadar International Airport and multi-modal connectivity projects will enhance regional trade and economic activity.

Recognising Pakistan’s vulnerability to climate change, the government has launched aggressive measures to combat environmental degradation. Our initiatives have resulted in a 50% reduction in greenhouse gas emissions, increased afforestation efforts, and enhanced disaster resilience. Water security remains a top priority, with 10 million acre-feet of new storage capacity being developed to ensure long-term agricultural sustainability.

No nation can progress without investing in its people. Universal healthcare coverage has expanded, literacy rates are likely to be up by 10% by 2029, and women’s labour force participation is likely to grow by 17% during the same period. 

Youth unemployment has declined due to vocational training programmes and entrepreneurship support. Our governance reforms focus on transparency, meritocracy, and eliminating corruption at all levels.

Pakistan will celebrate 100 years of independence on August 14, 2047. The youth of today, those currently between 25 and 30 years of age, will be leading this nation. All of us must take this as the most serious challenge for tomorrow. 

As a nation, we must choose between continuing business as usual or embracing innovation and a forward-looking approach that propels us into the future.

The Uraan Pakistan initiative and the 5Es Framework have set the direction for this transformative journey. The first year of this government has already demonstrated our resolve to adopt bold, futuristic strategies rather than resorting to outdated policies. We promise to continue on this course, bringing necessary reforms and ensuring a better Pakistan for future generations.

As we complete the first year of this government, it is evident that we are not only meeting expectations but exceeding them. The PML-N government has once again proven that it is a government of action, development, and results. 

Our commitment to economic progress is visible across all sectors. From restoring investor confidence to implementing bold economic reforms, we are determined to make Pakistan an economic leader in the region. This is our promise to the people of Pakistan.

Together, we will build a stronger, more prosperous, and self-reliant nation. With continued perseverance, unity, and unwavering commitment, Pakistan’s journey toward economic prosperity is unstoppable.

Pakistan Zindabad!

The writer is the federal minister for planning, development, and special initiatives. He tweets/posts @betterpakistan

Disclaimer: The viewpoints expressed in this piece are the writer's own and don't necessarily reflect Geo.tv's editorial policy.

Originally published in The News