Pakistan’s Economy on the Path to Recovery, Says Finance Minister at Harvard Conference

Islamabad: Finance Minister Senator Oran Zebaig has stated that Pakistan is witnessing historic improvements in its economy, with inflation growth slowing to 0.7%, the lowest in 60 years, and foreign exchange reserves doubling.
The Finance Minister shared these insights during his keynote address at the “Pakistan Conference 2025” held at Harvard University, where he highlighted the journey of Pakistan’s economy towards recovery and transformation.
In his speech on the topic “Bridging Distances and Building the Future: Path to Inclusive Growth and Governance in Pakistan,” Oran Zebaig emphasized the government’s efforts to stabilize a struggling economy, reinforce infrastructure, restore confidence, and resume the development process. He asserted that stability is not an end goal, but rather a means to foster growth.
The Finance Minister elaborated on the government’s strategy, focusing on fiscal discipline, controlling inflation, energy reforms, tax reforms, governance, and the privatization of state-owned enterprises. He also pointed out significant opportunities for growth in sectors like minerals, information technology, green energy projects, and the entrepreneurial spirit of Pakistan’s young population.
Further, the Finance Minister highlighted Pakistan’s achievements in reducing the debt-to-GDP ratio from 75% to 67.2%, with plans to lower it to below 60% in the medium term. He noted that transparent privatization of loss-making state-owned enterprises is expected to save 2% of the GDP annually.
In the financial sector, he announced plans to promote digital banking, capital markets, and green finance, aiming to make Pakistan’s financial system more robust and resilient. He reiterated the government’s commitment to incorporating climate resilience into infrastructure and agriculture, and described the IMF’s Resilience and Sustainability Facility (RSF) and the World Bank’s Country Partnership Framework (CPF) as crucial milestones for Pakistan.
The Finance Minister also encouraged global investors, partners, and intellectuals to join Pakistan in its journey towards development, highlighting the nation’s untapped potential. He announced that Pakistan’s foreign exchange reserves had doubled, the value of the rupee had increased by 3%, and there had been a 44% rise in foreign investment. Additionally, IT exports had risen by 24%, and remittances were expected to reach $38 billion.
He shared that the country had achieved a fiscal surplus for the first time in 24 years, and Fitch Ratings had upgraded Pakistan’s credit rating to “B-” with a stable outlook. The Finance Minister concluded by stating, “Pakistan’s future will be shaped by bold and necessary decisions. If we invest in our people, modernize the economy, and continue the process of reform, Pakistan will emerge as a stronger, greener, and more competitive nation.”
The Pakistan Conference, held annually in the United States, is the largest conference organized by Pakistani students in the country. It brings together policymakers, academics, business leaders, and students to discuss Pakistan’s economic, political, and social issues, aiming to foster global cooperation and showcase the resilience and potential of the Pakistani people.
At the end of the event, the Finance Minister engaged with the attendees, answering their questions about Pakistan’s economic future.