The year 2024 left with bitter and sweet memories and Pakistan has entered the year 2025 with new hopes and aspirations.

Despite being full of various challenges, the past year proved to be a year of overall recovery for the country's economy. Inflation fell to a six-and-a-half-year low and the current account surplus reached a fifteen-year high. The stock exchange crossed the historic milestone of one hundred thousand points. Remittances increased by 29 percent to $2.9 billion. Exports increased by 7 percent year-on-year, interest rates fell by 9 percent and the policy rate fell from 22 percent to 13 percent.  Financial indicators improved. The 31% increase in foreign investment year-on-year increased investor confidence.  A stable economic environment was established and the country's economy was on the path to recovery. Foreign exchange reserves increased to $12 billion The rupee appreciated by more than three rupees. The inflation rate, which had reached 38%, fell to 4.9%, however, its effects could not reach the people due to the huge increase in electricity and gas bills.  Pakistan obtained a $7 million bailout package from the IMF to stabilize the country's economy.

Due to unrealistic targets, the international organization's condition of collecting 60 trillion rupees in revenue was not met.  Like other commodities, the prices of petroleum products also fluctuated. The price of petrol ranged from Rs 293.94 per liter to Rs 247.03 and has now been set at Rs 252.66 at the beginning of the new year.  If the country's economy continues to recover in this way, 2025 will be a year of growth and what if there is a political consensus? Meanchile experts say that the five-year plan "Udan Pakistan" that Prime Minister Shehbaz Sharif inaugurated on Tuesday for the sustainable development of the country is in a way a roadmap for the economic journey that, along with determining the path forward, also provides guidance in many matters, including the destination.  It would be good if a broad-based commitment like the "Economic Charter" was also revealed in this chapter, which would further strengthen the hope of better days for the nation, which has been suffering from problems for years. The representation of more than one political party (PML-N and PPP) and federal and affiliated units (Punjab and Azad Kashmir) at the event is pointing towards encouraging harmony.  In his address, the Prime Minister also referred to the current spirit of working together between governments and institutions and prayed that this partnership would continue till the end of time. The newly introduced plan covers a period of five years. In the past, five-year plans also yielded good results, but later such situations arose in which such programs could not take practical form, while there are also countries in the world that have prepared economic, strategic, global and domestic strategy maps for more than a hundred years and circumstances and events, including changes in governments, do not affect their journey.  The key points of the “Udan Pakistan” plan include export, e-Pakistan, environment, energy and equity (Five Es), while big targets have been set for different sectors, which will have to work hard to achieve. This effort should be made to save the middle and poor classes from further burden and take such measures that will help them cope. The Prime Minister himself also indicated that if the country has to move forward, the elite will have to make some sacrifices.

Mian Shahbaz Sharif also pointed out on this occasion that former Indian Prime Minister Manmohan Singh adopted Nawaz Sharif’s model to develop India, due to which India came ahead.  He says that if Pakistan wants to move forward, taxes have to be reduced. If I have the chance, I will reduce taxes by 10 to 15 percent so that theft also reduces and efficiency also improves. Obviously, this is not possible immediately, but as the Prime Minister said, “its time will come.”  To ensure the achievement of this goal, reforms will have to be brought forward for the overhaul of the entire tax system and machinery. Going beyond the income tax of the salaried class and where changes in the methodology have to be introduced for collecting taxes from people in other sectors, it will be necessary to cleanse the government machinery of the scourge of bribery. Regarding the goals of “Udan Pakistan”, Finance Minister Senator Muhammad Aurangzeb says that our goal is to increase the GDP rate to 6% by 2028, create 1 million additional jobs annually and achieve exports of $160 billion.  The Finance Minister is confident that the “Udan Pakistan Project” will put Pakistan in the ranks of the world’s major countries in the next three years.  According to Planning Minister Ahsan Iqbal, no obstacle will be tolerated in the way of economic development now. The current government has overcome many challenges and difficulties in the last nine months and achieved economic stability. This journey of success can be faster if the opposition parties also help in it.  For the success of the ongoing talks in this regard, everyone must be brave.The situation demands that ways of reconciliation be found keeping in mind the country’s interests, and this is for the betterment of everyone. Meanwhile, the Govt deteractors say our rulers should worry about ending inflation, unrest, unemployment and political and economic instability in the country.  The country is currently going through difficult times, there is neither law and order nor basic facilities, the economic situation is also very bad. In these circumstances, the statement of Federal Finance Minister Muhammad Aurangzeb about imposing more taxes has created a wave of concern among the public.

Steps are being taken to increase the tax-to-GDP ratio from 10.3 to 13.5 percent in the next three years. Which would prove that the government is lying to the nation. Instead of increasing the tax rate, the government should target the big tax defaulters in the country, and not continue to burden the poor.