ISLAMABAD: Despite facing significant economic and political challenges, the current government's initiative, "Uraan Pakistan," aims to revitalize the economy.

However, for the initiative to succeed, it is essential that the government clearly defines roles and responsibilities for all involved parties. The "business class" team must be carefully selected, with an emphasis on positive, approachable behavior rather than creating an atmosphere of intimidation. Clear communication of the destination and route, free from political rhetoric, is crucial for the initiative's success. The focus on exports, one of the five key pillars of the plan, is essential but problematic. The ambitious target of achieving a $1 trillion economy by 2035 and $3 trillion by 2047 appears unrealistic given Pakistan's current economic trajectory and the global economic environment. Such rapid growth would require significant and sustained performance across multiple sectors, something that is difficult under the existing structural and political constraints. Another challenge is the lack of a comprehensive roadmap for Uraan Pakistan.

Without a detailed plan outlining specific policies, timelines, and resource allocation, the initiative risks becoming another lofty vision with little practical impact. The absence of clear institutional and provincial responsibilities further compounds the risk of failure. While exports and foreign investment are central to the plan, it overlooks critical internal challenges. Issues such as corruption, inefficiencies in the bureaucracy, energy shortages, and political instability must be addressed to create a favorable environment for sustained growth. Even institutions like the Special Investment Facilitation Council (SIFC) have struggled to overcome these hurdles, making it difficult for investors to operate without sovereign backing. Moreover, Uraan Pakistan places heavy emphasis on economic growth but neglects the need for social development in areas like poverty reduction, healthcare, and education. A holistic approach that balances economic and social progress is necessary for long-term prosperity. Additionally, the initiative seems top-down, with limited public involvement. Broader consultations with civil society, academia, and the private sector would enhance inclusivity and ownership. Regarding exports, the target of doubling exports to $60 billion annually is highly ambitious, especially in the current global environment. The global market is increasingly hostile, with recessions, protectionist policies, and geopolitical tensions all contributing to the challenges. Furthermore, Pakistan's export-oriented sectors face limited capacity for growth, tough global competition, and reduced profit margins. While sectors like agriculture, IT, creative industries, and the blue economy are seen as key growth areas, these require significant investments and time. Questions remain about Pakistan's capacity to expand agricultural exports given food security pressures and water scarcity.

The IT sector, despite receiving incentives, has shown limited growth, and the blue economy's potential remains largely untapped. To improve Uraan Pakistan's effectiveness, a detailed roadmap with specific policies and timelines must be developed. Institutional reforms to tackle corruption and bureaucratic inefficiencies are also crucial. Investment in human capital, particularly in education, healthcare, and skills development, will help raise productivity and social well-being. Sustainable and inclusive growth should be prioritized, alongside greater public-private partnerships for successful implementation. Uraan Pakistan has the potential to transform the country's economy, but its success depends on realistic planning, clear targets, and effective accountability mechanisms. Only then can it move beyond political slogans to meaningful economic change.