Which government launched the five-year economic development program “Uraan”?
A. PTI
B. PML-N
C. PPP
D. MQM
Explanation:
The PML-N (Pakistan Muslim League-Nawaz) government introduced the five-year economic development program named “Uraan”. The plan aims to boost Pakistan’s economic growth to 6% by the end of its term. However, achieving this target depends on addressing structural issues, attracting investment, and ensuring political and economic stability.
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PML-N’s Uraan Program: Ambitious Economic Growth Plan
Introduction
The PML-N government launched the five-year economic development program, Uraan, with the goal of accelerating Pakistan’s economic growth to 6%. This initiative focuses on macroeconomic stability, structural reforms, and increased investment to achieve sustainable development.
Key Objectives of Uraan
1. Economic Growth Target
The program sets an ambitious growth target of 6% by the end of the PML-N government’s term, aiming to position Pakistan’s economy on a sustainable growth trajectory.
2. Investment in Infrastructure
Infrastructure development, including transportation networks and energy projects, is a cornerstone of the Uraan program.
3. Enhancing Exports
The program emphasizes boosting exports through industrial growth and diversifying export markets, particularly focusing on key sectors like textiles and agriculture.
4. Attracting Foreign Investment
The PML-N plans to attract private foreign investments by improving the ease of doing business and addressing security and political challenges.
Challenges to Implementation
- Political Instability: Unresolved political divisions hinder long-term policy execution.
- Security Issues: Persistent security concerns, especially in KP and Balochistan, deter investors.
- Structural Deficiencies: Without addressing structural imbalances, achieving the program’s objectives remains difficult.
Impact on Economic Stability
While Uraan presents a promising framework for economic development, the lack of substantial reforms and heavy reliance on borrowed capital for consumption could limit its effectiveness. Encouraging private investment and implementing critical reforms are essential for the program’s success.
Conclusion
The PML-N’s Uraan program represents an ambitious plan to elevate Pakistan’s economy by achieving a 6% growth rate. However, its success depends on addressing underlying structural issues and fostering a stable economic and political environment. By prioritizing reforms and investments, the program could potentially transform Pakistan’s economic landscape.
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