Federal Minister Unveils Uraan Pakistan to Boost Exports to $60 Billion

Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal has introduced a detailed economic roadmap under the Uraan Pakistan initiative, targeting an export increase to $60 billion. Speaking at a meeting with commercial bank presidents at the State Bank of Pakistan headquarters, Iqbal emphasized the transformative potential of the program for Pakistan's economic development.

Joined by State Bank of Pakistan Governor Jameel Ahmad and senior banking officials, Iqbal outlined the critical role of financial institutions in achieving these ambitious goals. He urged banks to expand lending to private and priority sectors, with a focus on small and medium enterprises. SMEs were identified as essential drivers of export potential.

“Uraan Pakistan is not just a program; it is a vision for a progressive and prosperous nation,” Iqbal said. He called on commercial banks to work collectively and innovatively to empower SMEs, support emerging industries, and ensure economic resilience.

The initiative aims to diversify exports beyond traditional textiles by focusing on IT, agriculture, mining, manpower export, the blue economy, and cultural industries. Iqbal noted that with adequate support, SMEs could contribute $40 to $60 billion in exports over the next five years.

Reflecting on the country's economic history, Iqbal observed, “Pakistan has seen three major economic takeoff attempts, all of which were disrupted by wars, political instability, or policy changes. Uraan Pakistan offers us the chance to rewrite that history with a sustainable and forward-looking strategy.”

The minister also highlighted the “Five Es” framework—E-Pakistan, Environment, Energy, Equity, and Economy—as the foundation of the government's development approach. He encouraged banks to double export credit disbursements, adopt risk mitigation tools, and introduce digital trade finance solutions to empower exporters and cut transaction timelines.

While acknowledging hurdles such as political instability, low literacy rates, and high energy costs, Iqbal expressed optimism for the future. He concluded by reiterating the vital role of financial institutions, stating, “Banks are the backbone of our economy, and their proactive involvement is crucial for sustainable growth.”