Pakistan's Economy Moving in Right Direction, Says SBP Governor

SBP Governor Jamil Ahmed says remittances and foreign exchange reserves are increasing. Pakistan's economy recorded 3.6% growth during fiscal year 2026. Higher production, exports and employment are needed to sustain economic stability. State Bank aims to build a secure, inclusive and future-ready financial system. State Bank of Pakistan (SBP) Governor Jamil Ahmed has said Pakistan's economy is moving in the right direction, pointing to improving remittances and foreign exchange reserves while stressing that stronger production and exports will be necessary to sustain economic stability. Speaking at an Independence Day ceremony at the State Bank in Karachi, where he also hoisted the national flag, Ahmed said Pakistan needs collective efforts and national unity to overcome economic challenges and move firmly towards development and prosperity. The SBP governor said the country recorded an economic growth rate of 3.6% during fiscal year 2026. He noted that remittance inflows and foreign exchange reserves were increasing, reflecting improvement in key areas of the economy. However, Ahmed cautioned that developments in the global economy continue to create significant challenges for Pakistan. He said the country must strengthen its economic foundations to make the current stability sustainable over the longer term. Increasing domestic production, expanding exports and generating more employment opportunities are essential for achieving that goal, according to the governor. He particularly highlighted exports as an important driver for putting Pakistan on a sustainable development path. Ahmed also outlined the State Bank's efforts to prepare the country's financial system for future requirements. He said the central bank wants to develop a financial system that is both secure and future-oriented while ensuring access to financial services for all segments of society. Expanding financial inclusion remains an important objective, with the State Bank also working to make investment opportunities more accessible to ordinary citizens. Ahmed said a secure banking system, broader access to financial services and greater investment opportunities could encourage wider participation in the economy. The governor highlighted the State Bank's role in supporting efforts to build a stronger and more prosperous Pakistan and urged stakeholders and citizens to fulfil their responsibilities with a sense of national spirit. Reflecting on the meaning of independence, Ahmed said freedom should not be viewed only in terms of political independence. It also requires respect for the law and the fulfilment of responsibilities towards the country and society. He called for greater national unity in addressing Pakistan's challenges, saying collective efforts, increased economic activity and a stronger financial system would be important for maintaining the country's progress towards sustainable growth and prosperity. Also Read