Atif Mian blames Islam for Pakistan's sluggish economy

Intro
In 2026 (Oct), the Pakistani Initiative youtube channel posted a video wherein a major conversation on Pakistan’s economic future happened. It was 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. Famous Qadiani-Ahmadi Professor Atif Mian was also there as well as his teacher, Nobel Prize-winning economist Daron Acemoglu.

In this discussion, Atif Mian and Nobel Prize-winning economist Daron Acemoglu proved that they have no idea what is going on in Pakistan and with its economy. In his closing statement, Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said he disagreed with the statements of the professor (See 1:17:17) in terms of AI investing.

In his closing statement, Atif Mian blames the religion of Islam for all of Pakistan’s problems (he is clearly promoting Qadianism)(1:15:15). Atif Mian even argued that Pakistan should invest in EV’s and even gave irrelevant stats about it.

In terms of remittances, workers’ remittances are the largest and most dependable source of non-debt external financing for the Economy of Pakistan, making up roughly 9.9% of the country’s Gross Domestic Product (GDP). Atif Mian was against this!

Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb explained how Pakistan has been accepted in the 10-year Country Partnership Framework (CPF) for Pakistan covering fiscal years 2026 to 2035 (FY26–FY35), making Pakistan the first country to launch this extended operational model with the World Bank. This is estimated at 40 billion.

In conclusion, they didn’t discuss the newest energy related discoveries either.

In reality, Pakistan is living off of loans from the World Bank (owes 40 billion) and IMF (currently owes 10 billion), this is the business model of Pakistan + remittances. This is impossible to change in the next 20 years. The only area of growth that will change Pakistan is the recent discovery of oil and gas under the water off-shore of Pakistan. Pakistan is not investing in AI since its own population is a hindrance when robots start taking more jobs. Furthermore, Pakistan is owned by the USA and is reliant on the USA in total. Increasing the tax rate will not help at all! Pakistan is an investment center for the USA. They also didn’t tell us how much US dollars are owned by Pakistan.

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—At 7:29, he talks about energy prices and how they matter to Pakistan as well as the exchange rate.

–At 15:33, Atif Mian starts speaking. Atif Mian says that the biggest issue is that Pakistan must develop a Strategic Plan that will instruct it to do certain things, in certain situations.

–At 17:54, Atif Mian said that Pakistan should pursue Solar power, since it gets so much sunlight, sunrays are 50% more powerful in Pakistan. Atif Mian compares kilowatt hours (electric) vs. Petrol. However, this is not true, the price for panels and solar cars is too much! Atif Mian says that the private investor in Pakistan needs to know where to invest. Atif Mian says that Pakistan bought coal plants from China and he had advised against it. What is Pakistan doing under CPAC? Atif Mian said that Pakistan would never be able to pay them back.

–At 21:55, Prof. Daron Acemoglu starts speaking. He was also the teacher of Atif Mian. Acemoglu says that Pakistan’s economy has been in crisis for 30 years. Acemoglu says that Pakistan has a 9% tax rate. 40% illiteracy rate, infrastructure is bad, there is no adequate investment into education. Acemoglu alleges that Bangladesh exports more than Pakistan and Pakistan has fell behind. Ademoglu says it’s a political economy crisis, which the elite control and needs a democratic buy-in.

–At 26:55, Aurangzeb is asked about what he has seen in terms of the “political economy crisis”. Aurangzeb says that he has also worked in the private sector. Aurangzeb said that there is no dearth of policy prescriptions in Pakistan. Aurangzeb says that Pakistan is on the way to financial growth and success, firstly, based on the tax rate. Last year, Pakistan’s tax rate was at 10.3%. Pakistan is moving in the right direction. Aurangzeb says Pakistan needs to get to 15%-16%. The tax base must be broadened. The private sector must do it! At 31:53, Aurangzeb alleges that it is the corruption with the subsidies which is causing the problem. Aurangzeb mentioned the twin deficits in Pakistan, the gap between the government’s total expenditures and its revenues (tax and non-tax income), forcing the state to rely heavily on borrowing to meet daily expenses.

Low tax-to-GDP ratio (traditionally around 10%–12%).
Heavy non-developmental expenditures, particularly massive debt servicing and energy sector/power subsidies.
Losses from inefficient state-owned enterprises (SOEs).

At 33:03, Aurangzeb alleges that there are 2 existential issues of Pakistan, which are (the twin deficits).

At 34:20, Atif Mian begins talking, there are 2 issues of the political economy of Pakistan, 1 is that people say, “not in my backyard”. The elite will remain the elite, they are a very resilient people. Atif Main proposed to give citizens of Pakistan equity shares in solar panels. Pakistan imported a record 17 gigawatts (GW) of solar panels in 2024 alone, making it one of the largest solar markets in the world. Solar accounted for over 32% of the country’s total electricity mix by 2025.

At 37:05, Atif Mian alleges that there is a governance problem in Pakistan. The quality of the people that they appoint to high positions. Atif Mian says that someone’s relative was put in charge of AI policy in the Punjab. Is this a joke? But what about his Khalifa’s?

At 38:10, Prof. Daron Acemoglu is introduced as a Nobel Prize winner. In his work, Acemoglu accused countries of “extracting” their own money and corruption.

At 39:50, Acemoglu alleges that Pakistan’s political economy has failed. Institutional Improvement has failed. Acemoglu called Pakistan a dysfunctional democracy. Acemoglu mentioned “Politicized Islam”, spearheaded by the military and have made democracy impossible. There are 2 ways out, mental authoritarianism, so far Pakistan has had competitive
authoritarianism. Political jailings, it’s not a dictatorship. There is no recipe. Acemoglu alleges that a proper democracy could solve Pakistan’s issues. Acemoglu blamed politicized Islam.

–At 47:33, Dr Reza Baqir (moderator) begins speaking…

–At 48:48, Aurangzeb starts talking, is there a tax on agricultural goods in Pakistan? Aurangzeb says that population and climate are 2 issues which might not have a solution. Aurangzeb mentioned The World Bank Group establishes long-term 10-year Country Partnership Frameworks (CPFs) to guide multi-year financing, policy advice, and private sector investments aligned with national development plans. [1, 2, 3]. A $20 billion concessional financing plan from the World Bank backed by an additional projected $20 billion in private sector mobilization from the International Finance Corporation (IFC). [1, 2, 3]. 2 billion per year for population and other things. There were 22-25 floods in the previous years. Pakistani’s also need hygiene.

At 56:50, Saudi Arabia is highly successful without democracy.

At 57:25, Atif Mian begins talking about the future of Pakistan. Atif Mian alleges that Pakistan’s foreign exchange rate policy has been to tax exports, by keeping an appreciated exchange report. Atif Mian alleges that Pakistan is reliant on remittances. Atif Mian says that he criticizes the government policy which says to create 50,000 nurses and send them to Japan and cash the remittances.

At 1:02:49, Prof. Daron Acemoglu starts talking, he alleges that whenever the military is involved in the economy, it goes bad. This is a lie! At 1:06:02, Acemoglu alleges that democratic government increase tax revenue. Saudi Arabia’s existence contradicts that!

At 1:08:31, a question was asked to Aurangzeb about the role of the IMF in Pakistan. Aurangzeb promoted remittances. At 1:11:20, Aurangzeb said that the Pakistani govt. doesn’t want to give out more subsidies. Why should the Pakistani government subsidize things that don’t make money? Models which aren’t competitive in the world. Aurangzeb said that Pakistani must fix it’s population problem.

At 1:12:53, Acemoglu starts talking and says that AI is about to change the world’s economy and Pakistan is not ready for it. All problems will be multiplied. Acemoglu alleges that India is ahead of Pakistan in terms of AI.

At 1:14:20, Atif Mian starts and says the biggest issue is peace. Establishing peace within Pakistan. Atif Mian says religious extremism is the main problem. Equal rights for all! Mian alleges that this is fundamentally linked with long term growth.

At 1:16:55, Aurangzeb starts talking, he disagrees on AI, Pakistan’s population and how to leverage all of that! There are lots of crypto users in Pakistan.

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Links and Related Essay’s

https://x.com/AtifRMian/status/2113355012482998643

Iqbal Latif on X: ““ آٹھ برس سے یہ شخص آپ کو بتا رہا ہے کہ پاکستان مر رہا ہے۔ آٹھ برس سے پاکستان نے مرنے سے انکار کیا ہے۔” عاطف میاں کی پیروی کرنے والے پاکستانی @AtifRMian یہ خط اپکے نام ہے، مگر آپ کے لیے لکھا گیا ہے۔ آپ میں سے دسیوں ہزار ان کے ہر تھریڈ سے لٹکے رہتے ہیں۔ آپ میں سے کچھ انہیں وزی… / X

https://x.com/ilatif/status/2114383409967419395?s=46