PM Shehbaz launches economic initiative 'Uraan Pakistan' programme

PM outlined ambitious goals for economic reforms, expressing hope that current IMF agreement would be last

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Prime Minister Shehbaz Sharif on Monday inaugurated the economic initiative ‘Uraan Pakistan’, declaring it a pivotal moment for the nation’s future.

Speaking at the launch ceremony held in Islamabad, attended by senior government officials, federal ministers, and institutional heads, the premier said, “Today is a historic day as we commence the journey of Uraan Pakistan.”

The prime minister highlighted the coalition government’s struggle to stabilise the economy during Pakistan’s 2023 financial crisis. "When we were on the brink of default and striving for the IMF programme, we decided to prioritise saving the state over politics," he said.

PM Shehbaz accused opposition elements of attempting to block the IMF programme, calling it a grave injustice to the people. Despite these hurdles, he noted, "We have successfully achieved macroeconomic stability."

Praising the collaboration between government institutions, he remarked, “I have never seen such a partnership before. My prayer is for this unity to endure as we move forward with solidarity and determination, learning from past mistakes.”

The prime minister credited the public for enduring economic hardships and pledged to build on the current stability, describing it as “only the beginning.” He also criticised the previous government for straining relations with friendly nations, stating that their conduct left Pakistan isolated on the global stage.

PM outlined ambitious goals for economic reforms, expressing hope that Pakistan’s current IMF agreement would be its last. “Through hard work, we can achieve success. Inflation has visibly decreased, and collaboration between the government and institutions continues to strengthen,” he said, adding, “Sustainable development cannot rely on costly electricity, and I wish I could cut taxes by 10 to 15 per cent.”

Finance Minister Muhammad Aurangzeb, speaking earlier at the event, detailed the objectives of the Uraan Pakistan initiative. He claimed the plan would elevate Pakistan’s economy to a global level within three years.

Highlighting recent achievements, he said, “Pakistan recorded a fiscal surplus for the first time in 24 years, reduced inflation from 38% to 5%, and improved the policy rate from 22% to 13%. The stock market is now the second-best performing globally, and investor confidence—both local and foreign—has surged.”

Aurangzeb emphasised that the programme is laying the groundwork for sustainable economic growth, adding, “This is a turning point for the nation’s economic stability.”