Prime Minister Launches “Udaan Pakistan” Economic Initiative

Islamabad: Prime Minister Shehbaz Sharif has officially launched the “Udaan Pakistan” economic program, calling the day a historic one for the country. The program, aimed at revitalizing Pakistan’s economy, was inaugurated in a ceremony held in Islamabad, with senior government officials and representatives from various institutions in attendance. The event was graced by Federal Ministers, heads of various institutions, and other prominent figures, including Minister for Information Atta Tarar, Minister for Finance Aorangzeb, and Minister for Planning Ahsan Iqbal, who also addressed the gathering prior to the Prime Minister’s speech.
In his address, Prime Minister Shehbaz Sharif emphasized that today was not a day for political discussions. He recalled how, in 2023, when Pakistan was on the brink of bankruptcy and struggling to secure a deal with the International Monetary Fund (IMF), the government and its allies decided to put politics aside and prioritize saving the state. He highlighted that efforts were made to prevent the IMF program from going ahead, a decision that, according to him, could have caused even greater harm to the public.
The Prime Minister praised the government’s efforts to stabilize the economy, acknowledging the collective efforts of the government and various institutions. He expressed hope that this partnership would continue despite challenges, stating that he had never witnessed such a level of collaboration before. He emphasized the importance of learning from past mistakes and moving forward with unity, solidarity, and determination.
Shehbaz Sharif also highlighted the resilience of the Pakistani people, noting that despite difficult circumstances, they had shown courage and perseverance. He mentioned that while macroeconomic stability had been achieved, this was just the beginning. He criticized the previous government’s handling of foreign relations, pointing out that the country had been isolated on the global stage due to poor diplomatic conduct.
The Prime Minister also reflected on Pakistan’s current financial struggles, mentioning that the country was still burdened with debt but was receiving $7 billion from the IMF. He assured that this would be Pakistan’s final IMF program, and success could be achieved through sustained hard work and commitment.
On the topic of inflation, the Prime Minister noted that government actions had led to a significant reduction in inflation, and he expressed a desire to reduce taxes by 10 to 15 percent if given the opportunity.
Earlier, Finance Minister Aorangzeb addressed the gathering, expressing optimism about the “Udaan Pakistan” program’s potential to position Pakistan among the world’s leading economies within the next three years. He highlighted key achievements under the government’s economic policies, including a surplus for the first time in 24 years, a reduction in inflation from 38 percent to 5 percent, and Pakistan’s stock market emerging as the second-best performing market globally. Additionally, he noted a reduction in the policy rate from 22 percent to 13 percent, which has boosted investor confidence both domestically and internationally.