By Ayesha Saba

Pakistan targets 6% GDP growth, $63 billion in exports of goods and services, and $10 billion in IT exports under the FY2028-29 Uraan framework.

In pursuit of the targets, the country achieved IT exports of $4.6 billion, GDP growth of 3.7%, and $40.9 billion in exports of goods and services in FY2025-26.

According to the “Key Economic Indicators: Uraan Targets and Progress” data, available with Wealth Pakistan, the medium-term framework sets out targets across growth, investment, exports, income, taxation and debt, alongside progress recorded since the FY2023-24 baseline.

GDP growth, which stood at 2.6% in FY2023-24, increased to 3.2% in FY2024-25 and 3.7% in FY2025-26, while 4% growth is budgeted for 2026-27. The Uraan target for FY2028-29 is 6%.

The export push is a major component of the framework. Exports of goods and services are targeted to reach $63 billion by FY2028-29 from $38.7 billion in FY2023-24, $40.8 billion in FY2024-25 and $40.9 billion in FY2025-26. For 2026-27, exports are budgeted at $44.1 billion.

The technology sector is expected to play a growing role, with IT exports targeted at $10 billion by FY2028-29. IT exports increased from $3.2 billion in FY2023-24 to $3.8 billion in FY2024-25 and $4.6 billion in FY2025-26, while the 2026-27 budgeted level stands at $6.5 billion.

Uraan Pakistan also targets per capita income of $2,405 by FY2028-29. The figure stood at $1,607 in FY2023-24, increased to $1,751 in FY2024-25 and reached $1,901 in FY2025-26.

Investment is targeted to rise to 17% of GDP, compared with a 13.2% baseline in FY2023-24. It increased to 14.4% in FY2024-25, remained at 14.4% in FY2025-26, and is budgeted at 15% in 2026-27.

The framework seeks to bring inflation to 6.2% by FY2028-29. Inflation stood at 23.4% in FY2023-24, declined to 4.5% in FY2024-25, and was recorded at 7.1% in FY2025-26, while 8.2% is budgeted for 2026-27.

On the fiscal side, the tax-to-GDP ratio is targeted at 13.5% by FY2028-29. It stood at 8.8% in FY2023-24, rose to 10.3% in FY2024-25, remained at 10.3% in FY2025-26, and is budgeted at 10.6% for 2026-27.

At the same time, the debt-to-GDP ratio is targeted to decline to 60%. The ratio stood at 67.6% in FY2023-24, increased to 70.6% in FY2024-25, before declining to 68.3% in FY2025-26. It is budgeted to ease further to 66.3% in 2026-27.

The Uraan framework sets an FY2028-29 target of $39.8 billion for workers’ remittances. They stood at $30.3 billion in FY2023-24, rose to $38.3 billion in FY2024-25 and $41.6 billion in FY2025-26, with $42.4 billion budgeted for 2026-27.

The framework sets the FY2028-29 current account balance target at a deficit of 1.2% of GDP, compared with a surplus of 0.6% in FY2023-24, a deficit of 0.5% in FY2024-25 and a surplus of 0.1% in FY2025-26. A surplus equivalent to 0.7% of GDP is projected for FY2026-27.

The Uraan targets therefore place faster growth, stronger exports, expanding IT earnings, higher investment and tax mobilisation, and a lower debt burden at the centre of Pakistan’s economic ambitions through FY2028-29.

Credit: INP-WealthPk