SBP Governor stresses reforms key to prosperous Pakistan

According to Mettis Global, the State Bank of Pakistan (SBP) plans to concentrate on price stability, reforms and conditions that lift productivity, exports and employment. Governor Jameel Ahmad made the remarks at a flag-hoisting ceremony at SBP Karachi marking Pakistan's 79th Independence Day. He argued that these priorities are essential for converting stability into lasting growth and a more prosperous nation.

The Governor noted that the economy had made real headway toward stability over the past year and was now entering a phase of durable expansion. Careful fiscal and monetary policy, he said, had kept average inflation at 7.1% during FY26. The present policy stance, he added, fits the 5-7% medium-term inflation goal and still leaves scope for investment and jobs.

Economic growth reached 3.7% in FY26, and the Governor expects it to land between 3.5% and 4.5% in FY27. On the external side, record remittances from overseas Pakistanis crossed $41bn in FY26 and are expected to reach $44bn in FY27, which he said reflected continued confidence in the economy. Rising remittances and a low current account deficit pushed foreign exchange reserves to $18.4bn by the end of FY26, and he expects them to top $21bn in FY27. He also credited the PRISM+ rollout with faster, safer large-value payments, and pointed to the launch of InvestPak for public investment.