Can Pakistan Fix Its Economy? | Atif Mian, Daron Acemoglu, Reza Baqir & Finance Minister Aurangzeb

[_NOBODY_]

Can Pakistan Fix Its Economy? | Atif Mian, Daron Acemoglu, Reza Baqir & Finance Minister Aurangzeb



Can Pakistan fix its economy? What will it take to achieve lasting stability, meaningful reform and sustainable economic growth?

In a major conversation on Pakistan's economic future, Nobel Prize-winning economist Daron Acemoglu, renowned economist Atif Mian, and Pakistan's Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, come together to examine the country's economic challenges and the road ahead.

Moderated by Dr Reza Baqir, former Governor of the State Bank of Pakistan, this discussion brings together leading international economic thinkers and senior Pakistani policymakers to explore the choices that will shape Pakistan's future.

Pakistan's Economic Agenda: Stability, Reform and What Comes Next

The conversation explores some of the most important questions facing Pakistan:

1. What will it take to put Pakistan on a path towards sustainable economic growth?
2. Why have successive economic reforms struggled to deliver lasting change?
3. How can Pakistan strengthen institutions, attract investment and restore economic confidence?
   What role should government, the private sector and international partners play in economic transformation?
4. What comes next for Pakistan's economy?

Featured Speakers

• Prof. Daron Acemoglu — Nobel Laureate in Economics (2024), Massachusetts Institute of Technology (MIT)
• Prof. Atif Mian — Professor of Economics, Princeton University
• Senator Muhammad Aurangzeb — Federal Minister for Finance and Revenue, Pakistan
• Dr Reza Baqir (Moderator) — Former Governor, State Bank of Pakistan

Date: 12 April 2026
Venue: David Rubenstein Treehouse,

 

[PakFactor]

Can Pakistan Fix Its Economy? | Atif Mian, Daron Acemoglu, Reza Baqir & Finance Minister Aurangzeb



Can Pakistan fix its economy? What will it take to achieve lasting stability, meaningful reform and sustainable economic growth?

In a major conversation on Pakistan's economic future, Nobel Prize-winning economist Daron Acemoglu, renowned economist Atif Mian, and Pakistan's Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, come together to examine the country's economic challenges and the road ahead.

Moderated by Dr Reza Baqir, former Governor of the State Bank of Pakistan, this discussion brings together leading international economic thinkers and senior Pakistani policymakers to explore the choices that will shape Pakistan's future.

Pakistan's Economic Agenda: Stability, Reform and What Comes Next

The conversation explores some of the most important questions facing Pakistan:

1. What will it take to put Pakistan on a path towards sustainable economic growth?
2. Why have successive economic reforms struggled to deliver lasting change?
3. How can Pakistan strengthen institutions, attract investment and restore economic confidence?
   What role should government, the private sector and international partners play in economic transformation?
4. What comes next for Pakistan's economy?

Featured Speakers

• Prof. Daron Acemoglu — Nobel Laureate in Economics (2024), Massachusetts Institute of Technology (MIT)
• Prof. Atif Mian — Professor of Economics, Princeton University
• Senator Muhammad Aurangzeb — Federal Minister for Finance and Revenue, Pakistan
• Dr Reza Baqir (Moderator) — Former Governor, State Bank of Pakistan

Date: 12 April 2026
Venue: David Rubenstein Treehouse,

Nothing new is being added to the existing literature on Pakistan's economy that people do not already know. Those who need to know already know the issues and steps to resolve them, so regurgitating them over and over isn't going to help resolve our issues.

I've said in the past that overseas remittance does nothing to help the overall macroeconomic issues, and the relief at the micro level is just temporary at best.

Anyway, laga row, at this point it's just a dead horse that's being beaten, and even senior economists have moved on from Pakistan.

 

[nahtanbob]

Nothing new is being added to the existing literature on Pakistan's economy that people do not already know. Those who need to know already know the issues and steps to resolve them, so regurgitating them over and over isn't going to help resolve our issues.

I've said in the past that overseas remittance does nothing to help the overall macroeconomic issues, and the relief at the micro level is just temporary at best.

Anyway, laga row, at this point it's just a dead horse that's being beaten, and even senior economists have moved on from Pakistan.

don't remittances buy breathing space at the macro level ?

Another way of looking at it is that it prevents shock therapy

 

[SaadH]

Nothing new is being added to the existing literature on Pakistan's economy that people do not already know. Those who need to know already know the issues and steps to resolve them, so regurgitating them over and over isn't going to help resolve our issues.

I've said in the past that overseas remittance does nothing to help the overall macroeconomic issues, and the relief at the micro level is just temporary at best.

Anyway, laga row, at this point it's just a dead horse that's being beaten, and even senior economists have moved on from Pakistan.

Pakistan's economic affliction is not one due to lack of remedies or deficit of solutions rather the powers that be deem it in their best interest to maintain the status quo of perpetual economic chaos.

 

[PakFactor]

don't remittances buy breathing space at the macro level ?

Another way of looking at it is that it prevents shock therapy

In Forex reserves, which are temporary at best. You're bringing in currency to purchase dollars to pay off debt, to give some breathing room, and it's not resolving the underlying causes of Pakistan's structural predicament in the economy. One such issue is borrowing at high interest rates; as investors (or the market, let's say) consider you a high-risk credit, this puts further strain on the reserves, creating a vicious circle in macroeconomics. Whatever is coming in goes right back out.

Being stuck in this balance of payments treadmill, as they call it, leaves no room for any sort of capital expenditures or expansions.

The worst tragedy is for those overseas Pakistanis: by sending their hard-earned currency back home to their families, it loses its value once converted into the local rupee through the banking channel, whereas the Hawala offers more attractive rates. That's the first loss; then comes the inflationary impact that further erodes purchasing power.

They work their tails off and come out with the short stick in the end.

 

[Pakistanithinktank]

This topi drama will continue…,,Nothing will happened unless establishment implement structural reforms across the board and capital punishment for corruption and money laundering.

 

[nahtanbob]

In Forex reserves, which are temporary at best. You're bringing in currency to purchase dollars to pay off debt, to give some breathing room, and it's not resolving the underlying causes of Pakistan's structural predicament in the economy. One such issue is borrowing at high interest rates; as investors (or the market, let's say) consider you a high-risk credit, this puts further strain on the reserves, creating a vicious circle in macroeconomics. Whatever is coming in goes right back out.

Being stuck in this balance of payments treadmill, as they call it, leaves no room for any sort of capital expenditures or expansions.

The worst tragedy is for those overseas Pakistanis: by sending their hard-earned currency back home to their families, it loses its value once converted into the local rupee through the banking channel, whereas the Hawala offers more attractive rates. That's the first loss; then comes the inflationary impact that further erodes purchasing power.

They work their tails off and come out with the short stick in the end.

if you cut off $20 billion in remmitances, won't Pakistani economy take a nose dive in the short to intermediate term ?

 

[PakFactor]

if you cut off $20 billion in remmitances, won't Pakistani economy take a nose dive in the short to intermediate term ?

Of course, hence why it's called a balance of payments treadmill. In its current form, the economy is more exposed to global shocks entirely out of its control, as it hasn't diversified its economic base to sustain it long-term.

But as stated, the current way it's operating isn't conducive to getting out of this hamster wheel.

Remittance is no substitute for a diversified economy.

 

[Mobius]

The simple answer is unfortunately not at the current trajectory. To turn things around the captain steering the ship will need to change. When the unelected PM thinks that taking more loans to encourage growth is the way forward, then we're screwed.

 

[Feroze]

I hope Pakistan can fix it's economy Insh'Allah.

 

[PakFactor]

The simple answer is unfortunately not at the current trajectory. To turn things around the captain steering the ship will need to change. When the unelected PM thinks that taking more loans to encourage growth is the way forward, then we're screwed.

That's the other issue; their borrowing, but there's no growth. It's like you're running on credit, and get another line of credit to pay the first - rinse and repeat.

To me, they're wasting time on these crypto projects, among other things and IT exports, etc., while we are entering a 5th industrial revolution.

 

[PakFactor]

I hope Pakistan can fix it's economy Insh'Allah.

The Prophet (PBUH) says, "Tie your camel and then pray". When the Battle of Badr came, they prepared and came to the battlefield with what they had, and then prayed.

Until we get the sequence right, it makes no difference on the ground. It's like those imams praying at Mecca and Medina, praying to Allah to take care of Israel and the Great Satan, yet they've done nothing to prepare, but rather purchased properties and other investments over there, and bankrolled the Kushners. Then you wonder why God doesn't answer.

 

[PK781]

This topi drama will continue…,,Nothing will happened unless establishment implement structural reforms across the board and capital punishment for corruption and money laundering.

this right here is the problem........Corruption and Money Laundering by the Ruling Class (judiciary, executive, parliament/senate, politician, military,establishmnt).
The bad apples have ruined it for everyone

 

[RescueRanger]

 

[nahtanbob]

Of course, hence why it's called a balance of payments treadmill. In its current form, the economy is more exposed to global shocks entirely out of its control, as it hasn't diversified its economic base to sustain it long-term.

But as stated, the current way it's operating isn't conducive to getting out of this hamster wheel.

Remittance is no substitute for a diversified economy.

hate to disagree -- end in remmitances mean 30% decline in living standards with huge increases in human misery

only possible good is that it might focus Pakistani society to think hard about how they improve themselves. that is not a given