KARACHI: Jameel Ahmed, Governor State Bank of Pakistan (SBP) Monday said Pakistan has successfully transitioned from a phase of macroeconomic instability - marked by high inflation, dwindling forex reserves and concerns over default - to a period of stability, renewed investor confidence and a gradual recovery in economic growth.
While attending the gong ceremony at the Pakistan Stock Exchange (PSX) on Monday, the SBP governor highlighted significant improvements across multiple economic indicators, signaling a much-needed revival of economic growth.
“Inflation has come down substantially, external current account balance has turned into a surplus, FX buffers have been rebuilt, and public debt indicators have improved considerably during the past couple of years”, he mentioned.
Macroeconomic stability achieved: Aurangzeb
The SBP governor noted that with a sound macroeconomic base and renewed investor confidence, we have the opportunity to set Pakistan on a trajectory of broad-based, inclusive prosperity.
He emphasized that this macroeconomic stability has been achieved through difficult policy decisions. Now, it is crucial to focus on sustainable growth. He pointed out that enhancing productivity and boosting exports must become central to Pakistan’s growth model, as export activity directly contributes to greater productivity, innovation and foreign investment.
The SBP governor urged stakeholders to come together and commit to long-term strategies that ensure sustainable and inclusive growth for Pakistan. While the country is on the path to recovery, he underscored the need for reforms to address structural issues for avoiding boom-bust cycles and economic stagnation.
He reaffirmed the SBP’s commitment to creating a resilient and inclusive financial ecosystem, supported by an enabling regulatory environment, as the foundation for Pakistan’s economic prosperity.
Jameel also emphasized the need for financial literacy to achieve true financial inclusion and highlighted that the SBP is holding the Pakistan Financial Literacy Week from April 14 to 18, where various activities are planned across the country to engage different segments of society in financial literacy efforts.
He reaffirmed that enhancing financial inclusion remains a top strategic goal within the SBP’s Strategic Vision 2028, alongside building an innovative and inclusive digital financial ecosystem.
The SBP governor also shared key initiatives under the National Financial Inclusion Strategy (NFIS) 2024-28, including efforts to increase financial inclusion from 64percent to 75percent by 2028, while reducing the gender gap in financial services from 34percent to 25percent by 2028.
He also expressed his appreciation to the PSX management for their continued efforts in providing a vital platform for the country’s capital market and highlighted the importance of the PSX in enabling corporations to raise capital and offering investors the opportunity for substantial returns on their savings.
Meanwhile, the inaugural ceremony of Pakistan Financial Literacy Week (PFLW) 2025 was held Monday at the National Institute of Banking and Finance (NIBAF) Pakistan, Karachi. The event brought together key stakeholders from across the financial sector to promote the importance of financial education and inclusive growth under the theme “Financial Inclusion through Collaboration and Innovation.”
A key highlight of the event was the launch of the National Financial Education Roadmap, unveiled by the Governor SBP Jameel Ahmed. This strategic document outlines Pakistan’s vision and actionable framework to expand the knowledge and access to quality financial services for all segments of society.
He emphasized the crucial role of financial literacy in building a more inclusive and resilient financial system and highlighted SBP`s efforts towards increasing the numbers of financial inclusion in the country and appreciated banking industry and other stakeholders for their role in financial literacy efforts.
During the speech, the SBP governor said Pakistan has made significant strides in promoting financial inclusion through a range of initiatives.
Copyright Business Recorder, 2025
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