This document presents a vision for economic transformation, with a focus on understanding key factors which have prevented this from happening in the case of Pakistan. It draws from the experience of other emerging economies and leading economic research on how countries have successfully transformed their economies by letting their productive structures adapt and evolve over time. In this respect, the current document is a significant departure from the traditional focus on achieving growth by reinforcing existing structures of the economy. While such traditional approaches did deliver many episodes of growth spurts, these always proved to be short lived, often leading to the build-up of large imbalances and, ultimately, crises.