Pakistan finmin vows to push ahead with structural reforms at Harvard University conference
ISLAMABAD: Finance Minister Muhammad Aurangzeb vowed to push ahead with structural reforms in Pakistan's energy, taxation, governance, and other sectors to ensure sustainable economic growth at a Harvard University conference, state-run media reported on Monday.
Pakistan secured a $7 billion financial bailout program from the International Monetary Fund (IMF) in September last year, as it moved to consolidate its economy after averting a default in 2023. Islamabad has since undertaken several reforms to reduce public debt, maintain low inflation, improve the energy sector's viability, and accelerate growth.
Aurangzeb attended the Pakistan Conference at Harvard University, which, according to its website, is the 'largest student-led gathering on Pakistan in the United States,' on Sunday. The conference is hosted by university students with the support of research centers. It convenes policymakers, academics, business leaders, and civil society experts to engage in critical discussions on Pakistan's economic trajectory, governance, and global positioning.
'Emphasizing that 'stability is not an end but a means to an end,' the finance minister outlined the government's strategy, including maintaining fiscal discipline, controlling inflation, and pushing ahead with deep structural reforms in energy, taxation, governance, and the management of state-owned enterprises,' state-run Associated Press of Pakistan (APP) reported.
The finance minister highlighted the government's key economic achievements, which included a reduction in inflation to 0.7 percent year-on-year in March, the lowest in 60 years, an increase in Pakistan's foreign exchange reserves, a three percent currency appreciation, and a current account surplus exceeding $1 billion in March 2025, APP said.
Aurangzeb also flagged major growth opportunities in Pakistan's rich mineral resources, expanding information technology sector, green energy initiatives, and the country's youthful entrepreneurial population, it added.
'Pakistan's future will be shaped by bold, necessary choices,' the finance minister was quoted as saying by APP. 'By investing in our people, modernizing our economy, and staying committed to reform, Pakistan will emerge stronger, greener, and more competitive.'
The finance minister arrived in Washington earlier this month to attend the IMF-World Bank Spring Meetings 2025. During his visit to the American capital, he met his counterparts from other countries, including senior officials of the IMF and the World Bank. Aurangzeb took part in panel discussions to highlight Pakistan's economic achievements and spoke to international media outlets as well.
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