Pakistan

Pakistan Sets Ambitious $60 Billion Export Target by 2029 with ‘Udaan Pakistan’ Program

Islamabad:The **Government of Pakistan** has set an ambitious target to boost the country’s exports to **$60 billion annually** by **2029**, aiming to place Pakistan firmly on the path to sustainable economic growth. In line with this vision, **Prime Minister Shehbaz Sharif** is set to announce the **‘Udaan Pakistan’** program on **December 31**, 2023, marking a key milestone in the country’s economic planning.

### Key Features of the ‘Udaan Pakistan’ Program:

– **Five-Year National Economic Plan (2024-2029)**: The program will span from **2024 to 2029** and aims to radically transform Pakistan’s economic landscape, with a focus on boosting exports and enhancing productivity across key sectors.

– **Export Growth Target**: Under the ‘Udaan Pakistan’ program, the federal government plans to increase national exports to **$60 billion** per year. This will be driven by strategic initiatives aimed at improving both traditional and non-traditional sectors, including the burgeoning **IT sector**.

– **Focus on IT and Education**: A key component of the program is the expansion of the **IT sector**, with a special emphasis on increasing **IT exports** and fostering a skilled workforce. Additionally, there will be a concerted effort to **increase the number of IT graduates** in Pakistan, making the country a competitive player in the global digital economy.

– **Literacy and Poverty Reduction**: The program will also target the **improvement of literacy rates**, alongside broader efforts to reduce poverty. It aims to create a more inclusive and sustainable economy by equipping the population with the skills needed to succeed in the 21st-century job market.

– **Vision for 2035**: By **2035**, the **Udaan Pakistan** initiative seeks to position Pakistan as a **$1 trillion economy**, laying the foundation for long-term prosperity. This ambitious target underscores the government’s commitment to revitalizing the country’s economic framework and reducing dependency on foreign aid.

### Addressing Economic Challenges:

Pakistan has faced significant challenges in recent years, particularly with **declining foreign exchange reserves** and reliance on imports such as **petroleum, agricultural commodities, and essential goods**. This has made it critical for the country to **increase exports** to replenish foreign reserves and ensure economic stability.

During the tenure of the **Pakistan Democratic Movement (PDM)** government, Pakistan came close to defaulting on its debt obligations, but timely support from **friendly nations** helped stabilize the economy. The **‘Udaan Pakistan’** program is being hailed as a strategic step toward reducing Pakistan’s dependence on external aid and putting the economy on a sustainable growth trajectory.

### The Road Ahead:

The **‘Udaan Pakistan’** program aims to build a robust economic foundation that can withstand global uncertainties and external shocks. By focusing on export-led growth, skills development, and modernization of key industries, the government hopes to position Pakistan as a regional economic powerhouse.

The **IT sector**, in particular, is seen as a critical area of focus, given its potential to drive foreign exchange earnings and contribute to global value chains. As the program unfolds, it will be closely monitored by both domestic stakeholders and international observers as an indicator of Pakistan’s economic recovery and growth potential.

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