State Bank of Pakistan (SBP) Governor Jameel Ahmad emphasized that sustainable economic stability is essential for achieving social development and prosperity for all. He made these remarks at the 9th Annual Microfinance Conference held in Karachi, hosted by the Pakistan Microfinance Network. The conference focused on the theme of “Revitalizing Microfinance” and highlighted the need to renew commitment to using microfinance as a tool for broad-based economic growth.
The SBP Governor noted that difficult but necessary policy and regulatory measures taken over the past few years have helped stabilize the economy. He stated that inflation has significantly declined and is expected to remain within the government’s medium-term target range of 5–7%, despite temporary price pressures caused by recent floods.
He added that the central bank’s monetary and regulatory policies, combined with the government’s fiscal consolidation efforts, have played a crucial role in easing inflation and external sector pressures. As a result, the country’s debt dynamics have improved over the last three years.
Economic growth is now on a recovery path and is expected to pick up further during the current fiscal year, despite the temporary setbacks caused by floods, which mainly affected the agricultural sector.
