Govt delays launch of $1 trillion economic plan

The launch of Pakistan’s New Uraan Pakistan National Economic Transformation Plan 2024-2029 has been delayed with the government announcing that a new date will be set soon.

The plan is designed to steer Pakistan toward sustainable and robust economic growth aiming to expand the economy from $374 billion to $1 trillion by 2035.

To achieve this ambitious goal, the plan outlines several key targets. One of the primary objectives is to boost annual economic growth to 9.8 percent. Additionally, the government plans to increase literacy rates by 10 percent, bringing them to 70 percent, and reduce poverty by 13 percent.

Beyond these economic goals, the New Uraan Pakistan plan also seeks to address major national challenges. It includes strategies to reduce subsidies and eliminate the persistent circular debt, which has long burdened the country’s finances. 

Furthermore, the plan prioritizes environmental sustainability, with a target to cut greenhouse gas emissions by 50 percent. While the delay in the plan’s launch has raised concerns, the government has assured that a new date for the unveiling will be announced soon. 

This comprehensive plan is crucial for Pakistan’s long-term economic stability, as it tackles both financial and environmental challenges aiming to foster growth and enhance the quality of life for its citizens.

It is worth mentioning that Prime Minister Shehbaz Sharif was supposed to announce the plan on Friday.