KARACHI: Businessmen from all strata have welcomed the Uraan Pakistan initiative as a roadmap for reform and transformation, but cautioned that “the real challenge will be its implementation”.

“The real challenge lies in its true implementation with a clearly defined action plan,” said M. Abdul Aleem, the CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI)) on Thursday.

He recalled that similar plans had been launched in the past, but fell flat because of policy inconsistencies, a limited tax base, a lack of will to reform institutions like the Federal Board of Revenue, delays in phasing out inefficient state-owned enterprises, and an inability to elevate standards of governance.

Abdul Aleem urged the government to engage with all stakeholders, including the private sector, and take them into confidence before setting ambitious targets under the Uraan Pakistan.

The OICCI, he added, can play a vital role in translating the Uraan Pakistan vision into reality. But meaningful engagement with stakeholders is critical to success of the initiative.

“Decisive action today can set us on the road to progress and prosperity in the long run.”

Sacrifices needed

Ehsan Malik, the CEO of Pakistan Business Council (PBC), said Finance Minister Muhammad Aurangzeb in his speech during the launch of the initiative had rightly said a big gap between enunciation and execution had been the bane of all such programmes in the past.

“All and sundry agree that the nation needs restructuring in all walks of life, but no one is ready for the sacrifices that a radical change demands,” Mr Malik said.

“With this state of inertia and in the absence of continuity, the most useful element of Uraan Pakistan is the proposed implementation framework, which, if followed diligently, should result in meaningful progress,” he observed.

The most important parts of this framework are the Pakistan Centennial 2047 Lab and the Champions of Reforms Network, which aim to bring the private and public sectors together to work for the realisation of a shared vision, Ehsan Malik said.

There will be considerable work cut out for the National Economic Transformation Unit of the Ministry of Planning to coordinate with the PM’s Office, federal ministries and provincial governments to align policies and actions, the PBC CEO added.

Businessmen find dealing with a plethora of ministries a headache, Mr Malik said. As if this were not enough, long-term plans are abandoned in favour of revenue-seeking quick-fixes.

“It is our sincere wish that Uraan Pakistan will be given a fair chance to prove itself. The prime minister must ensure effective monitoring and accountability if this initiative is to succeed.”

Ehsan Malik said some measures for rebuilding confidence were necessary to persuade the private sector to enter into partnership with the public sector. The treatment meted out to Independent Power Producers has scared away the private sector, he added.

The importance of competitive energy to promote exports was not specifically highlighted, nor was the role that comparability of incentives can play in competing with other countries in our export markets, the PBC CEO said.

The finance minister mentioned that a “people, process and technology” approach would be adopted to transform the FBR. “This approach is equally applicable to all of Uraan Pakistan’s objectives as well as to all federal and provincial government agencies.”

Malik Khuda Bakhsh, the convener of the FPCCI’s standing committee for energy, said reducing the tax rate would not only increase revenue but also curtail tax evasion. The number of taxpayers will rise, too.

He said the plan can be a success only if all national institutions and the government work together.

Published in Dawn, January 3rd, 2025