Governor of the State Bank of Pakistan (SBP) Jameel Ahmad has said that inflation in the fiscal year 2025 has fallen to its lowest level in nine years. He credited strict monetary and fiscal policies for bringing economic stability and overcoming recessionary pressures.
Speaking at the launch ceremony of the Women Entrepreneur Finance Code (WeFinance Code), Jameel Ahmad stated that improvements in external accounts have stabilized the foreign exchange market, while remittances and exports have led to a current account surplus.
"The State Bank’s foreign exchange reserves have now surpassed 14 billion dollars," the governor said. "The financial policy has effectively supported the monetary policy, resulting in economic recovery and sustainable growth in Pakistan."
He added that economic activity in Pakistan is increasing sustainably and the growth of the private sector is improving competitiveness and quality.
Jameel Ahmad thanked the Asian Development Bank team for supporting the WeFinance Code initiative and emphasized that achieving a sustainable economy requires macroeconomic stability. Reflecting on recent challenges faced by Pakistan’s economy, he said that tough decisions by the government and the State Bank led to recovery.
"We must avoid repeating past mistakes and seize this opportunity to move towards a sustainable economic future," he noted.
Women’s Financial Inclusion to Increase by 2028: SBP
The SBP also launched the inaugural WeFinance Code for Pakistan, aiming to promote financial inclusion for women. SBP Governor Jameel Ahmad, Deputy Governor Saleem Ullah, and representatives of the Asian Development Bank attended the event.
Deputy Governor Saleem Ullah said that under the Financial Inclusion Strategy, the SBP is committed to increasing women’s financial participation to 25 percent by 2028. He shared that the efforts of the SBP have already raised overall financial inclusion in Pakistan from 16 percent to 67 percent.
Saleem Ullah highlighted that women's financial inclusion remains low, with 52 percent of women still without bank accounts and only 2 percent currently availing loans from banks.
He added that 20 banks have agreed to sign the WeFinance Code to further support women's access to financial services.
