SBP governor vows focus on stability, reforms and export growth

SBP Governor Jameel Ahmad said on Friday that the central bank will keep its attention on price stability, policy reforms and an environment that supports productivity, exports and employment. He made the remarks at a flag-hoisting event at SBP Karachi to mark Pakistan's 79th Independence Day. According to Business Recorder, he credited prudent fiscal and monetary policies and greater economic discipline for the progress made over the past year.

Average inflation in FY26 stood at 7.1 percent, while growth reached 3.7 percent in the same year. The governor described the current monetary stance as appropriate for keeping inflation within the 5 to 7 percent medium-term target, and he expects growth of 3.5 to 4.5 percent in FY27. He called this a sign that the economy is moving toward sustainable growth after a period of stabilisation.

Remittances exceeded 41 billion dollars in FY26 and are projected to hit 44 billion in FY27, while reserves stood at 18.4 billion dollars at the end of FY26 and could pass 21 billion during FY27. Retail digital transactions rose from roughly 10 billion to 12 billion over the year, which the governor tied to SBP's steps to promote digital payments. He credited the PRISM+ launch with making large-value settlements quicker and safer, bringing the payment system closer to international standards. He also stressed self-reliance, strong institutions and the rule of law.