State Bank of Pakistan (SBP) Governor Jameel Ahmad on Monday highlighted Pakistan’s noticeable macroeconomic progress, noting the country’s successful transition from instability marked by high inflation, low reserves, and fears of default to one of stability and economic growth recovery.
Attending the gong ceremony at the Pakistan Stock Exchange (PSX), he pointed to significant improvements across multiple economic indicators, emphasizing a decline in inflation, a surplus current account, strengthened foreign exchange reserves and stabilizing public debt indicators. He noted that workers’ remittances had reached an all-time high of $4.1 billion in March 2025, partly due to the government and central bank’s efforts to incentivize the use of formal banking channels, and partly the smooth functioning of the domestic foreign exchange market. He said the central bank expects total remittances for FY25 to reach $38 billion.
Ahmad said a sound macroeconomic base and renewed investor confidence presented an opportunity to set Pakistan on a trajectory of broad-based, inclusive prosperity. Stressing that this was achieved through difficult policy decisions, he said it was now time to focus on sustainable growth. Enhancing productivity and boosting exports must become central to Pakistan’s growth model, he said, noting export activity directly contributes to greater productivity, innovation, and foreign investment.
The SBP governor urged stakeholders to unite and commit to long-term strategies that ensure sustainable and inclusive growth. As the country’s recovery proceeds, he said, reforms to address structural issues are crucial to avoid 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.
According to Ahmad, financial literacy is essential to achieve true financial inclusion. In this regard, he said, the SBP is marking Pakistan Financial Literacy Week from April 14 to 18, with activities planned nationwide to engage different segments of society in financial literacy efforts. He affirmed that enhancing financial inclusion remains a top strategic goal of the SBP’s Strategic Vision 2028, alongside an innovative and inclusive digital financial ecosystem. He also shared key initiatives of the National Financial Inclusion Strategy 2024-28, including efforts to increase financial inclusion from 64% to 75% by 2028, and reducing the gender gap in financial services from 34% to 25% by 2028.
Expressing his appreciation to the PSX management for their continued efforts in providing a vital platform for the country’s capital market, Ahmad highlighted the institution’s importance in enabling corporations to raise capital and offering investors a chance for substantial returns on their savings.