I congratulate the State Bank of Pakistan on the completion of 60 years of its service to the nation. During this period the SBP has been transformed as an effective institution of the country. The SBP's supervisory role in developing a liberalised, competitive and sound banking system with diversified business activities is widely acknowledged.
This enabling environment has increased investors confidence, that is reflected in a sharp growth in foreign investment in the country. However, there is always room for improvement. We know that the world around us is changing rapidly and SBP has to keep up with these changes.
Unfavourable events such as global credit crunch, exceptional rise in international oil price, and domestic stresses would continue to pose challenges to the SBP. I am sure that the SBP has the caliber to meet such new and unforeseen challenges successfully. I wish the State Bank of Pakistan succeeds in its endeavours to promote economic growth and financial stability in the country.
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