Five-year transformation plan for economy to be unveiled – Pakistan

• Ahsan Iqbal urges civil servants to play a role in shaping the country’s future
• Says Chashma-5 project reflects strong bond between Pakistan and China

ISLAMABAD: The federal government will unveil the National Economic Transformation Plan 2024-29 today (Tuesday), Planning Minister Ahsan Iqbal announced during a ceremony on Monday.

The five-year plan aims to address key economic challenges through a specific framework called the “Five E’s”: Exports; E-Pakistan; Equity and Empowerment; Environment, Food and Water Security; and Energy and Infrastructure.

Speaking at the handover ceremony of the 47th Specialized Training Program of the Pakistan Administrative Service in Lahore, the minister said: “We examined the key challenges that Pakistan has faced in the last 16 months and identified the priorities needed to establish a stable foundation . This led to the development of the Five Es Framework to address our key challenges.”

He explained that the framework includes expanding and diversifying exports to make export-led growth a cornerstone of economic development, harnessing the power of digital transformation to turn Pakistan into a techno-economy, ensuring environmental, food and water security to achieve sustainability, focusing on energy efficiency and affordability, and construction of multimodal transportation corridors.

The framework also “promotes equity, ethics and empowerment for value-based growth, focusing on youth and women as drivers of future progress,” it added.

Addressing civil servants, Iqbal highlighted their critical role in addressing Pakistan’s challenges and shaping its future. “Civil service is not just a profession; “It’s a mission,” he said.

The minister identified peace, political stability, policy continuity and commitment to reforms as key factors for sustainable development. “Governments come and go, but public officials are the constant force that leads the nation toward progress,” he said, urging officials to maintain integrity and a reputation for excellence.

He encouraged them to reflect on how other nations have surpassed Pakistan in development and called for a unified approach to overcome the country’s challenges. “If we are to achieve an honorable position by 2047, public officials must commit to these factors,” he added.

Chashma-5 project

Meanwhile, Planning Minister hailed Unit 5 (C-5) of Chashma Nuclear Power Project as a milestone in Pakistan-China cooperation during the first concrete pouring ceremony of the project in Mianwali on Monday.

He highlighted the critical role of nuclear energy in addressing Pakistan’s energy challenges. “Currently, our nuclear power plants contribute more than 3,530 MW to the national grid, providing clean and affordable electricity,” he said. The addition of the C-5, with a capacity of 1,200 MW, will further strengthen Pakistan’s energy mix, reducing dependence on imported fuels.

He highlighted the importance of China-Pakistan Economic Corridor (CPEC) in fostering regional connectivity and economic growth. “CPEC is more than a collection of projects: it symbolizes the unbreakable bond between Pakistan and China,” he said.

Iqbal also advocated the creation of joint ventures between Pakistan and China to design and produce nuclear power plants for global markets, opening up new economic opportunities. Under the Five E’s framework, the National Economic Transformation Plan emphasizes turning Pakistan into a “techno-economy”, he said. This includes the integration of artificial intelligence, nanotechnology and automation in economic development.

The strategy also prioritizes equity and empowerment, focusing on youth and women as drivers of future progress.

Sustainable energy

Highlighting the transition towards sustainable energy, Iqbal reaffirmed the role of nuclear energy in the country’s strategy. He praised Pakistan Nuclear Regulatory Authority for ensuring safety standards and compliance with international protocols.

“Security is paramount to the success of our nuclear program,” he said, adding that such projects demonstrate Pakistan’s potential as a reliable partner in large-scale infrastructure and technological collaborations.

Through the Five E’s, the government aims to build a resilient foundation for economic growth and ensure a sustainable future for Pakistan.

The event was also attended by Strategic Plans Division Director General Lieutenant General Yusuf Jamal, Pakistani Ambassador to China Khalil Hashmi, Chinese Ambassador to Pakistan Jiang Zaidong, CNNC Vice President Zhang Kai, Federal Secretaries and delegates from China.

Published in Dawn, December 31, 2024



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